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To: Leroyt who wrote (97)	8/25/1999 2:03:00 PM
From: Paceguy	Read Replies (1) \| Respond to of 526

Anybody see the new issue of Variety (Aug. 23-29 issue)? Our film is reviewed on page 108.

To: Leroyt who wrote (97)	8/25/1999 4:49:00 PM
From: Bill Shearer	Read Replies (2) \| Respond to of 526

Leroyt: IMO Looks like we have something here. Litigation = Value. Sore losers and everything. Maybe the stock will go to .015 then buy a boatload. Negotiating skills are now suspect among some of the former principals? This is beginning to have a great story line, maybe a play or movie? It would appear that all of the ingredients are here. IMHO Time will tell... LONG and HOLDING Best Regards, Bill

To: Leroyt who wrote (97)	8/26/1999 10:34:00 AM
From: Mark McNew	Respond to of 526

Here is something that might shed a little more light on the lawsuit... If nothing else it makes interesting reading. west.net And it shows to what length filmmakers will go to appease their own vanity: The whole brouhaha started when independent filmmaker Menahem Golan, who purchased the first five-year movie option on "Spider-Man" 13 years ago, filed a lawsuit to ensure that he would be listed as producer of any "Spider- Man" film, even if he never again lifts a finger to bring it to the screen. This part was interesting too.. Golan liked to think of himself as a producer with one foot in the schlock house and the other in the art house--the mix gave his company "balance," he would say. His first production had been the Oscar- nominated Israeli comedy "Sallah," and he had bankrolled any number of other small foreign films. But he also bragged about having discovered Jean-Claude van Damme and produced the kickboxing star's first three pictures Cannon's ambitions for "Spider-Man" were much greater; Golan pegged its budget at $15 million and dreamed of acquiring a big-name director. But before he could execute his master plan, time ran out for Cannon. As a string of flops such as the Sylvester Stallone arm-wrestling feature "Over the Top" drained Cannon's capital, the Securities and Exchange Commission charged it with fraudulently misstating its finances. (The company eventually settled the SEC case without admitting or denying the allegations.) Also an article in Fortune magazine... pathfinder.com The Cannon Group's debt was actually a little under a billion, but still the company was on the verge of bankruptcy. Its accountants were refusing to certify its books without a covering letter raising red flags. The company was being investigated by the SEC for making fraudulent financial statements and raising $339 million under false pretenses. Mark