Harry
The letter was forwarded from my brokerage firm. It is dated March 25 1999 and the phone number on the letter head is 250-475-6000, fax 250-475-0176. It is signed by Ken Mowers. AS a courtesy I will type the brief letter here for anyone who has not received it.
Dear Shareholder,
Management has called an annual general meeting on April 30, 1999 for the purpose of advancing the reactivation of the Company and to seek approval of audited financial statements for the years ended December 31, 1997 and 1998. As you are aware, the Company has been inactive over the past year. Approvals for the share consolidation and name change among other things were obtained at the last annual general meeting. Now that some interim funding has been obtained, the directors can begin to act on these matters and proceed with reactivation.
During the year, may business opportunities were investigated but were rejected as not being satisfactory. At the present time, the directors are considering some opportunities in real estate investment and development as well as two other active businesses. It is anticipated that a decision will be made prior to the annual meeting date and a report will be made to shareholders at that time.
Although the past few years have not been easy for either shareholders
or management, we are confident that new board members and the necessary funding will allow the Company to show significant progress in 1999.
Yours truly,
Ken Mowers,
President |
