Youv'e been had. The new so called MBHC chairman and president Baloney isn't telling you the truth. Did some research here in FLA on the Growth Fund. Thought you may be interested in this. Sold most of my position and will keep on doing so..bought at .60 and stuck ever since. Their phone number is 305-931-2420, check for yourself! (REPRINT OF WHAT WAS GIVEN TO ME)
April 8, 1999
FOR IMMEDIATE RELEASE
Miami,April 8:
GROWTH FUND PARTNERSHIP, INC., a privately owned, fully integrated holding company wishes to correct what appears, in their opinion, to be an erroneous statement in the press release issued by Mortgage Bankers Holding Corp. (OTC Bulletin Board MBHC) on March 26, 1999 at 10:27 AM.
In the press release, Growth Fund is said to have valued its shares on behalf of MBHC at $33,000,000. Growth Fund's practice is not to value its shares for third parties. MBHC's last available audited financial statement placed a value of $18,000,000 on the shares.
Further, Growth Fund management reports that it has filed a lawsuit in Florida state court for recovery of the shares issued to MBHC, as well as other damages, with a court date set tentatively for May 6, 1999. The lawsuit alleges contractural non-performance on the part of MBHC as the basis for requesting a court ordered return of the Growth Fund shares.
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