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Microcap & Penny Stocks : MPTVE - Turnaround With Huge Potential -- Ignore unavailable to you. Want to Upgrade?

To: Aubie who wrote (4514)	6/14/1999 1:09:00 PM
From: James Lee Baldwin	Read Replies (2) \| Respond to of 5783

Good MPTV info: Court advised his former law firm handled a case against this pltf. Mr. Netzorg advised he has no objection to this Court hearing this case. Mr. Shenk submitted an affidavit of James C. Vellema to the Court. Mr. Shenk advised there was a $5 million loan agreement with deft. and there was an amendment wherein pltf. was to release $300,000.00 to deft. when received from the insurance company for fire damage; pltf. has refused to release the funds. Mr. Netzorg advised this is a short-term loan and interest only payments were to be made through November 1 and then payments of $873,000.00 a month after that. Mr. Netzorg advised this is the first he has heard of the $300,000.00, however, deft. is in default and pltf. is entitled to a receiver. Mr. Netzorg further advised the rents have been assigned to ptlf. Mr. Shenk advised, if deft. had received the $300,000.00 when they were supposed to, they could have obtained the public offering statements from the State of Nevada and could have closed on a number of these units. Following arguments by counsel, COURT ORDERED, motion GRANTED; SHELDON KAPLAN APPOINTED AS RECEIVER. James