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To: Suzanne Newsome who wrote (33707)	8/19/1999 11:12:00 PM
From: Suzanne Newsome	Read Replies (5) \| Respond to of 44908

E-mail from Paul Henry....... Dear Suzanne, I have just spoken to our securities counsel about the subject of proper interim disclosures to shareholders regarding how much of the convertible debentures remain to be converted. His response, predictable for a securities lawyer, was as follows. First, he stated that if the SEC wanted disclosures more often than quarterly, they would require such disclosures more often. Second, he felt uncomfortable with us selectively disclosing such information to a limited group of shareholders (such as those on the S.I. thread) rather than disclosing such information to all shareholders simultaneously through a press release or interim report on Form 8-K (and we obviously do not want to get into making weekly reports about this). I can tell you that the amount remaining to be converted is substantially less than the $1.15 million that was unconverted as of June 30, 1999. Also, some of the remaining debenture holders are long-term supporters of the company, and are therefore not inclined to convert and sell in a way that would be harmful to the company. Other than that, I can only say that we will continue to inform shareholders about such conversions when we feel it is appropriate to do so, as for example when all the debentures have been converted. Finally, as you and many other shareholders know, we are currently working on an equity private placement for restricted stock at a fixed price above the current market price. At such time as a private placement has been completed, we will notify all shareholders through a press release and/or a Form 8-K. Once we have the necessary financing in place, I believe that shareholders will be less concerned about the remaining unconverted debentures. If you have further questions, please write or call me again. As always, we appreciate your support. Paul Henry ---------------------------------------------------------- TSIG.com email: PHenry@tsig.com 100 Second Avenue South tel: 727.897.4036 St. Petersburg, FL 33701 fax: 727.897.4029 ---------------------------------------------------------- -

To: Suzanne Newsome who wrote (33707)	8/19/1999 11:27:00 PM
From: Stealth	Read Replies (1) \| Respond to of 44908

Suzanne: First of all, thank you for the insight you have provided to this thread -- it is much appreciated by those of us who don't have the time to crunch the numbers ourselves. Thank you as well for the recaps of your talks with principals, parents and teachers. This all sounds very encouraging. I must admit that I am troubled by the fact that (to my knowledge) we have not had any first-hand sightings or reports from students, teachers or principals about MusicCards. Nobody outside this thread even seems to KNOW about them, let alone be selling or buying them. (I believe JWC and Chuckwalla have connections to the school system and they have nothing to report yet.) I know school has just started but I would have hoped that with sending out however-many-thousand brochures that SOMEONE could say, "Yeah, a kid came around yesterday and I bought one." Everyone seems greatly impressed by the idea but I'm still going to be a little nervous until we have a few decent reports of MusicCard sightings. Just my opinion, but I'm here for the long-haul. Stealth P.S. <<<<<<<<<<GOOD NIGHT FRED. SLEEP TIGHT>>>>>>>>