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Gold/Mining/Energy : ORIOLE SYSTEMS (OOL:VSE) -- Ignore unavailable to you. Want to Upgrade?

To: Philip Choy who wrote (413)	6/11/1999 4:07:00 PM
From: Robert Dydo	Respond to of 605

I checked it out too. I couldn't find much of Chinese contents, which gives me a lot hope for OOL and their promise of delivery. Americans are quick to pay attention and literally the price to new ventures. OOL's one customer can give more revenues than what consortium of clients to CHML, yet recognition will be slow and full of petty VSE crap. On stockhouse someone was mentioning a possible US contacts for financial backing. This sounds more realistic than Nasdaq listing and can cut Canadian brokers from their double games.

To: Philip Choy who wrote (413)	6/15/1999 12:58:00 PM
From: Robert Dydo	Read Replies (1) \| Respond to of 605

Oriole expands agreement with Succeed Technology Oriole Systems Inc OOL Shares issued 20,740,597 Jun 14 close $0.40 Tue 15 Jun 99 News Release Ms. Marie Shields reports Oriole Systems' agreement with Succeed Technology Ltd. has been expanded from serving e-commerce customers initially only in China to serving customers throughout Asia. Also, the agreement commits Oriole and STL to use their best efforts to have STL obtain reporting status. In addition, the company would like to provide further information about Mr. Ip's quote to indicate that his previous reference to cash flow should have been classified as revenue. On June 10, 1999, (see Stockwatch June 11, 1999), Oriole and STL announced in Hong Kong, the signing of a share purchase agreement whereby Oriole acquires a 51-per-cent controlling interest in STL, based on a memorandum of understanding signed in Vancouver, B.C., on April 29, 1999. The agreement remains subject to regulatory approval. The first customer for Oriole's e-commerce project is expected to be the Beijing International Gem Trading Center. IGTC is a consortium of approximately 100 Chinese wholesale businesses selling high-end jewellery products, including gold, jade, silver, emeralds, rubies, sapphires, pearls and other precious and semi-precious stones. Current sales exceed $1-million (U.S.) per day. On May 20, 1999, STL signed a memorandum of understanding to market IGTC gems and jewellery exclusively for a minimum of two years over the Internet. STL will receive compensation from each transaction, as well as from product advertising and electronic marketing. The transaction fee consists of a small listing fee to cover costs and a success fee related to sales. Stephen Ip, president of Succeed Technology Ltd., notes, "Although no one can predict the impact of the Internet on sales, if we assume a modest 5-per-cent increase in sales for IGTC, the revenue for this project for STL and Oriole over two years would be approximately $36.5-million (U.S.)." All sales will flow through STL and be reported as revenue to Oriole on a consolidated basis (in accordance with U.S. GAAP for a 51-per-cent subsidiary). From revenues, STL will purchase the gems exclusively from IGTC and will purchase Internet products and services from Oriole, its business partners and others for such requirements as hosting, networks and advertising.