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To: PistolPete who wrote (4118)	7/29/1999 11:02:00 AM
From: BBG	Read Replies (1) \| Respond to of 4230

What still amazes me is how so many otherwise intelligent people could have stuck by this company for so long after the all of the lies, "South of the border Accounting"... lawsuits, bankruptcies, nutso's, cardshark's, etc... Simply amazing.... Where is Flightless now.. flown the coup no doubt... BBG

To: PistolPete who wrote (4118)	7/29/1999 3:36:00 PM
From: Arcane Lore	Read Replies (1) \| Respond to of 4230

The news stories appear to have missed a key element of SEC's enforcement action against Great White. Revocation of a stock's registration is a very unusual step: SEC SEEKS REVOCATION OF MICROCAP COMPANY'S STOCK REGISTRATION On July 28, the Commission instituted public administrative proceedings pursuant to Section 12(j) of the Securities Exchange Act of 1934 against Great White Marine & Recreation, Inc. (Great White), a Waco, Texas company whose common stock is registered with the Commission pursuant to Section 12(g) of the Exchange Act seeking to revoke the registration of its securities. In the Order, the staff alleged that, in connection with its unregistered distribution, Great White, in a Form 10 filed with the Commission, and in press releases, promotional brochures and postings to the company's Internet website, has made false and misleading statements concerning its financial condition and business prospects, purported audits of the company's financial statements, the number of Great White shares issued and outstanding and sales of the company's stock, and the background of its officers, directors and principal management. The Commission has simultaneously announced the filing of a civil injunctive action on July 28 in the U.S. District Court for the Western District of Texas against Great White and Great White's president and CEO, A. Colin Smith (Smith). The complaint charges, among other things, that Great White has engaged in a massive, unregistered distribution of some 14 million shares of its common stock from which the company has received approximately $11 million, and that Smith has misappropriated approximately $3.5 million of these funds for his personal purposes. (Rel. 34-41667; File No. 3-9942) sec.gov