MTEI - Mountain Energy - No BASHING Allowed Message Board

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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed

MTEI 0.00400

-14.9%

Nov 18 9:31 AM EST

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To: MoneyBaggs who wrote (11159)	11/23/1998 1:19:00 AM
From: jhild	Read Replies (2) of 11684

I have been looking over some of the documents that you posted on the web. I was struck by something that I think could use additional inquiry. If you look at the letter of intent to complete the asset acquisition for the exchange of the assets of Government Property Advisors and the 50 million shares of ICVI, it is most interesting to me that it was signed by Jack Uselton - Agent. This implies some agency agreement between GPA and Jack Uselton. Now it is my understanding that GPA prior to this was a Marc Tow company. So in effect, when Jack signed this agreement, he was acting on behalf of Marc Tow. twinjet.simplenet.com twinjet.simplenet.com Now we know from looking at the record of the shareholders that there were three certificates: 10 million with Pacific Tax Properties: twinjet.simplenet.com 10 million with Cortland Group: twinjet.simplenet.com 30 million with Western States Tax Defaulted Real Estate Fund, LLC:http://twinjet.simplenet.com/MTEI/Shareholders/list21.gif If we look at twinjet.simplenet.com we can see that these certificates were transferred directly to them on the say so of John Christensen on 5/21/98. This was presumably in fulfillment of the contract to acquire the assets. So what I am wondering is, where is the contract of actual assignment for these shares going to GPA? Where as well is the letter of understanding that Tow and Uselton must have had, for Uselton to have been able to sign that letter on Tow's behalf. I have to admit that it is a little unusual to have someone (Jack) sign a contract on behalf of a lawyer (Tow). It begs the question of exactly what Jack's relationship with Tow really was. At the very least, that letter of Intent had no clause preventing the further issuance of common shares prior to the closing of the final contract. Those contracts with Karvi and MLJ seem to pre-date (April 15) even this letter of intent (April 21). This claim by Jack of being duped and illegal shares being issued after the signing of the agreement seems murky on the basis of this, especially if it wasn't finalized until 5/21.

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