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Microcap & Penny Stocks : NuOasis (NUOA) formerly NONA -- Ignore unavailable to you. Want to Upgrade?

To: Charles Broderick who wrote (1299)	8/17/1999 9:35:00 AM
From: Ken Sammut	Read Replies (1) \| Respond to of 1622

Ireland, I agree with your last post. It may be very difficult for NUOA to collect on the judgement. I would think they would have a better chance of owning the entire Gammarth hotel, casino, and commercial center (and unfortunately the debt that goes with it) than collecting on the judgement. It would seem to be a good guess that the group that has defaulted (and has hurt NUOA) also owes their lender a sizable sum. If the $300M is not collectable, I would hope NUOA could work something out with all the Gammarth lenders and take over the entire property. Gammarth is starving for a property like this. The locals (IMO) would take advantage of the commercial center and the entertainment (cannot gamble) that will be offered. The villas are beautiful and should appeal to wealthy locals and Europeans. The hotel is exceptional and will definitely appeal to tourists and European conference groups. The occupancy should continue to increase with time. Fred was probably three or four years premature in opening up in Tunisia. If NUOA can continue to survive for the next year or so and bring on other properties outside of Tunisia that are generating revenues, NUOA is worth holding on to and possibly worth adding more to your position. I sold out most of my position late last year and early this year for the tax loss. I will slowly add to my position in the 3 to 4 cents range and stick the stock certificates in the back of the draw. Ken