MISM: Franchising for the Future (The Future is Now) Message Board

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Microcap & Penny Stocks : MISM: Franchising for the Future (The Future is Now)

MISM 0.450

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Jan 21 4:00 PM EST

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To: broke2 who wrote (540)	6/26/1998 3:10:00 PM
From: Leroyt	of 1072

MISM UPDATE: Letter to shareholders: MIS INTERNATIONAL INC. 145 Traders Blvd. E., #40 Mississauga, Ontario L4Z 3L3 Telephone (905)890-6442 Fax (905)890-6048 Shareholder Update June 25, 1998 This letter is being mailed to all our shareholders of record. There have been many questions lately concerning our company's status. Please find an update below. 1. We are structuring a $12million dollar letter of credit for bridge financing. This will enable us to complete our first round of acquisitions and announce our major automotive deal we have been waiting since January to disclose. The paperwork from the letter of credit providers' bank is in process for execution and funding. 2. The permanent financing we disclosed last month is nearing completion and will be used to pay off our bridge loan and for working capital. Our original lender gave us conditions after our paperwork signing that could not be met. This forced us to find a new lender in the 11th hour. 3. All of our acquisitions previously announced by name are still alive. We have had to change some of the terms of our agreements due to the delays from our lenders. For example both Mr. Twister Pretzels and Pretzelmaker have agreed to extend the deals. However, when we missed the extension date they now have the right to solicit new offers. In both cases they are still working with us and hope to close with us shortly even though the original agreements have now expired. 4. We have put on temporary hold the acquisition of the 27 unit auto chain and the California-based entertainment company until financing is completed. We still have almost 300 units in our acquisitions we plan to close shortly. 5. I understand how frustrating it must be for a stockholder who is not on the inside to wait for news. However, we cannot give preferential treatment to certain stockholders with inside information. Please call Investor Relations at 602-561-1300 for updates. Also, please do not contact our Investment Bankers they cannot speak with you and the calls have interfered with their duties. I look forward to providing further information via press release shortly. Dan Masters

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