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Gold/Mining/Energy : JAB International (JABI)

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To: Ryan Weisman who wrote (4000)	10/21/1998 7:10:00 PM
From: Frank Brisebois	Read Replies (1) of 4571

Ryan: I seriously don't think BCMD can come up with anything. If you go back and read BCMD's PR dated Oct 12, 1998, the last 3 paragraphs tell the tale.. <<''At this point we have no cash with which to operate and our properties are liened for more than their liquidation value. We will now attempt to raise funds to place the company in Chapter 11 in an attempt to restructure and preserve some shareholder value,'' Chapin said.>> <<He said preliminary discusssions had been held with unidentified parties interested in merging into a reorganized Brush Creek under Chapter 11, but that no assurances could be given that the company would be able to raise funds for the Chapter 11 bankruptcy, or that it would emerge successfully from a reorganization.>> <<''Should our attempt to file Chapter 11 fail, we will simply request delisting and cease to operate since the company has no assets to liquidate in Chapter 7,'' Chapin said.>> That last paragraph is the kicker in the old butt-a-roo. Frank

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