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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW) -- Ignore unavailable to you. Want to Upgrade?

To: Stock Watcher who wrote (13723)	8/23/1999 12:23:00 AM
From: D. RUTTER	Read Replies (1) \| Respond to of 52051

NEW INVESTORS**MUST READ*********** reposted from yeasterday Feature Article on DRGI in todays Raleigh News&Observer!! Angling for piece of housing pie A Cary developer and a penny stock company find room for another North Raleigh community. By DUDLEY PRICE, Staff Writer RALEIGH -- Cary developer Mike Matheny and a Florida penny stock company, which emerged recently from bankruptcy reorganization, want to build an upscale golf-course community with as many as 1,600 homes in the Falls River area in North Raleigh. The question of whether they can succeed is nearly as big as their plans. Diversified Resources Group of Sarasota, Fla., and Matheny Development of Cary have contracted to buy 607 acres bounded by Falls of the Neuse, Durant and Dunn roads. The tract is just north of the 600-acre Falls River subdivision that East West Partners of Chapel Hill began developing in 1996. The 607-acre site is owned by PCF Falls, an investment group headed by apartment magnate David Falk Sr. PCF Falls bought the land in November for $9.5 million from Duke Management. Diversified Resources plans to close on the property in December and is planning a mix of apartments, townhouses and single-family homes priced from $200,000 to $400,000, as well as retirement housing, a commercial area and 200-room hotel, offices and a championship golf course, according to company news releases. The project would begin next year, be built over five years and bring in an estimated $5 million a year in profits from land sales, the company said. Diversified Resources said it has contracted with Westminster Homes, a division of Washington Homes, to buy 300 single-family and multi-family building lots valued at more than $15 million, and has an agreement with Ocean Golf Group to buy the golf-course property and hotel site for $2 million. Diversified said it also has a letter of intent from Drucker & Falk, the Triangle's largest apartment management and development company, to buy land for 800 apartments in the project. According to the Diversified Web site, it has commitments from national tract builders for the remainder of the property. But will it happen? Neither Matheny nor Diversified officials could be reached for comment. Several people active in Cary's real-estate community said it would be Matheny's largest project in this region. They said Matheny, who has been made director of real estate for Diversified Resources, has developed smaller projects in Cary such as Heritage Pines, a 96-acre, adults-only community on Carpenter Upchurch Road; Ivy Creek, a 150-townhome project off Kildaire Farm Road; and a townhouse project on about 18 acres at the Preston development. And Diversified Resources only emerged from a Chapter 11 reorganization on July 13. The company, which had filed for bankruptcy protection in September 1997, said it had reduced nearly $6 million in debt to less than $500,000 but had assets of only $42,576. The company, which formerly operated under the name Data 1 Inc., was founded in 1984 and has offered a variety of products and services, including a marketing operation for MCI, computer chips and sports marketing for NASCAR. It now sells electronic batteries and a saliva-based HIV screening test. The company changed its name to Diversified Resources in May, the same month it paid its president and chief operating officer $100,000 for his resignation. Two months later, the vice president of finance received the same buyout. According to an audit done in June by Jones, Jensen & Co., a Salt Lake City accounting firm, Diversified "essentially has reverted to the status of a start-up company." Diversified Resources apparently is banking on the North Raleigh land deal along with its battery sales and HIV tests to raise its stock price. Over the past year, its shares have fluctuated from a high of 29.5 cents to a low of 1.5 cents and closed Friday at 9 cents, up .9 cents from the day before. Shares are traded on the OTC Bulletin Board, an electronic quotation service. In an Aug. 6 news release, Diversified Resources said it was in the process of filing documents to be listed on the Nasdaq Stock Exchange and that one requirement was having a minimum share price of $5.

To: Stock Watcher who wrote (13723)	8/23/1999 9:27:00 AM
From: RCJIII	Read Replies (1) \| Respond to of 52051

News out on NAMC & NAMCW- International Expansion- Related Quotes NAMC 8 +0 delayed 20 mins - disclaimer Monday August 23, 7:29 am Eastern Time Company Press Release SOURCE: NAM Corp. NAM Announces Expansion into the International Dispute Resolution Arena GREAT NECK, N.Y., Aug. 23 /PRNewswire/ -- NAM CORP. (Nasdaq: NAMC - news) -- the nation's leading provider of arbitration and mediation services and electronic case management software -- announced today its expansion into the multi-billion-dollar international dispute resolution market. The company also announced the appointment of Thomas Ng, Esq., as Vice President, International Division. ''As technology continues to enhance the speed of business and electronic commerce becomes increasingly accepted worldwide, more companies and individuals are conducting business internationally than ever before. The demand for quality dispute resolution services in the global arena will increase in what is largely an untapped market. As an established leader in the dispute resolution industry in the United States, it is NAM's intention to translate its formula for success internationally,'' said Mr. Ng. Added Roy Israel, Chairman and CEO of NAM, ''The international market for arbitration and mediation services is substantial. As large as the U.S. litigation market is -- $160 million and rising -- countries all over the world are experiencing exponential increases in litigation. According to a study published by Tillinghast-Towers Perrin, Tort Cost Trends: An International Perspective, which measured international tort cost trends worldwide as a percentage of Gross Domestic Product, the relative growth of litigation in this country between 1973 and 1993 was 76%, as compared to the United Kingdom, which was 100%, and Spain, which was 200%. Additionally, other nations are recognizing the benefits of arbitration and mediation, evidenced by the 121 countries that are signatories at the Arbitration conventions. Litigation in some of these countries takes more than ten years to resolve. International arbitration is the only viable means for businesses to protect their rights and interests.'' Mr. Ng comes to NAM from the American Arbitration Association (AAA), where he served as International Case Manager. He also worked at the United Nations in the Legal Division. Prior to his tenure at AAA, Mr. Ng practiced law in Australia and specialized in commercial and property disputes in the Asian market. NAM Corporation is also the parent company of clickNsettle.com, the electronic settlement program. Headquartered in Great Neck, New York, NAM maintains hearing officer rosters and conference facilities nationwide. The statements contained in this release contain forward-looking statements relating to such matters as anticipated financial performance, business prospects and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company's actual results and experience to differ materially from the anticipated results or other expenditures expressed in the Company's forward-looking statements. These factors include changes in the markets and/or regions currently served by the Company and in those markets and/or regions that the Company may expand into; changes in the insurance industry; the Company's inability to retain current or new hearing officers; changes in the public court system; and the degree and timing of the market's acceptance of its software. SOURCE: NAM Corp.