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Technology Stocks : BGT (Bit Integration Technology)
DRYS 5.2400.0%Oct 11 5:00 PM EST
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To: toccodolce who wrote (8)5/13/1998 8:58:00 PM
From: Eugene Lo  Read Replies (1) of 53
 
Hi Tom!

Thank you for your support.

Please accept my apology for getting back to you late. I had been traveling in China for the last 6 weeks.

The purpose of the rights offering:
- fulfill our investment obligation - Shaanxi DLIMS project
- at current low price level, provides an opportunity to existing shareholders to participate before dilution
- Jamscor, our largest shareholder had committed to subscribe all the rights, but prefer to give other shareholders a priority since $0.22 represent an excellent value

For the past three years, management had been working hard to turn BIT from a developing company to a profitable company. This year, our hard work will come into fruition. Our project in China is going well and significant revenue will be generated. I am confidence our investment in BIT will be very profitable. (Note: I purchase 1,250,000 shares of BIT at $0.60 / share last July)

Our show in CardTech is very successful. We initiated several important negotiations and renewed several old ones. Very soon, I expect to conclude deal that we had been working on for the last few months.

Finally, AGM had been scheduled for June 23, 1998 in Toronto. I welcome everyone to attend so I can provide an update about BIT's latest development.

Best regards,
Eugene Lo
May 13, 1998
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