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Gold/Mining/Energy : Pallet Pallet Inc.
PPAL 60.100.0%Sep 23 11:27 AM EST

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To: Richard Nash who wrote (8)1/5/1997 5:36:00 PM
From: hugh thorne   of 451
 
There was at least one other problem that brought them down. They made a significant number of acquisitions in 1995 the partial payment of which was stock.They gauranteed certain prices and this was great when everything was going up; when the price started the late 95 meltdown however the whole bloody thing unravelled.

I understand they intend to raise $ 3,000,000 through a share issuance; this seems like signifcant dilution at these prices!
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