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Microcap & Penny Stocks : MXMX MediaX Corporation
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To: Garfield who wrote (731)5/2/1998 12:45:00 PM
From: Tommy Hicks  Read Replies (1) of 955
 
I thought I'd do a little reading on the last MediaX 10K. The SYCR and MXMX stock prices didn't just plummet together because of marital association. The companies seem to be operated in a similar manner. The debentures, debt converted to stock, private offerings of stock, services provided for stock and warrants look very familiar. I also see that Mrs. Poertner will get a nice little raise in November from $185,000 to $215,000 no matter how the company is doing. Great minds think alike.

I see that MXMX also got the "Going Concern" comment from the auditors. We all scoffed at that concerning SYCR calling it "boiler plate".

GOING CONCERN

The Company has experienced recurring net losses and has limited liquid resources. Management's intent is to increase the Company's sales and continue searching for additional sources of capital. In the interim, the Company will
continue operating with minimal overhead and administrative functions will be provided by key employees and consultants, some of whom are compensated primarily in the form of the Company's common stock. The Company may need to utilize its common stock to fund its operations through fiscal 1998. Accordingly, the accompanying consolidated financial statements have been
presented under the assumption the Company will continue as a going concern.


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