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Non-Tech : Sungold Gaming International (SGGNF)
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To: John Lawrence who wrote (3035)1/23/1999 9:41:00 PM
From: kidl  Read Replies (2) of 5164
 
Excerpts from the AGM Information Circular for those who have not received it:

DIRECTORS' REPORT - Project Review Michigan Casino
After the Federal acknowledgment process has been completed land can be purchased for the Gun Lake Band's initial reservation and placed in trust as part of the Federal acknowledgment process. Management anticipates that it will exercise the Gun Lake purchase option and acquire the Gladieux property on behalf of the Gun lake band and place it in trust as part of the Federal acknowledgement process.

Management believes it will finalize the Gun Lake management agreement on terms acceptable to the Gun Lake Band and NIGC (National Indian Gaming Commission)

Sungold and the Gun Lake Band have begun the process of negotiating the Gun Lake management agreement in anticipation of Federal achnowledgment. Sungold believes that it will enter into an agreement with a third party management company and will finalize the Gun Lake management agreement upon completion of the Federal acknowledgment process.

Now, anyone that believes that Sungold's BoD would have put the above in black and white on Jan. 10/99 knowing that the deal had been killed in November, please step forward.

Whoever posted 3002 must have a "very high" opinion of Sungold shareholders. Most of the thoughts that come to mind would likely remove me from SI permanently but let me just say this:
I refuse to believe that even ONE single long term Sungold shareholder is stupid enough to take this piece of s**t (post 3002) for anything but someone's blatantly unsophisticated and utterly futile attempt to manipulate shareholders into voluntarily devaluating the company's shares by selling into this cyber nonsense.

Furthermore, if poster 3002 thinks that he, she or them will force management by way of pressure from shareholders to make any sort of announcement is IMO sadly mistaken. This has been tried before, has never worked and I doubt will work now.

Just speaking for myself, being the sometime outspoken and unwelcome critic of the company, this idiotic post has no merit regardless where it originated from and was placed for one of two reasons:
1) The Band wants Sungold out / a better deal and knows that they have no leg to stand on, or
2) Our friendly shorts are mounting one last ditch effort to save their hides.
In both cases, good luck to either one of you!

kidl
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