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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: Mama Bear who wrote (33892)4/30/1999 3:20:00 PM
From: dumbmoney   of 122087
 
Thanks for posting the letter Barb.

We recently announced that Systeam S.p.A. had agreed to extend the date by which Coyote could increase its equity position in Systeam. While we have already increased our equity position in Systeam, our plan to acquire approximately 60% is dependent on the plan to finance the acquisition with the proceeds of a loan commitment previously made to Coyote by outside sources.

This is remarkably vague. It doesn't really say anything. "We have already increased our equity position in Systeam" sounds like it might mean something, but what exactly is unclear.

These proceeds, however, have not yet been received and obviously, we have no assurance as to if or when they will be received.

I don't think this was "obvious" to the shareholders who were deceived the company's February press release. The circumstantial evidence suggests that the "loan" was and is a complete fiction.
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