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To: trader14U who wrote (1176)8/31/1999 11:07:00 AM
From: who cares?  Read Replies (3) | Respond to of 1494
 
a cash infusion of up to $2 million by founder

Springfield Power would like to announce a cash infusion of up to $100,000,000,000 by it's founder CM Burns. Actual amount of infusion will be considerably less, like say $20 for doughnuts with sprinkles for the employees in Sector 7G.

These funds will be used for interim working capital as we move to complete our $10 million private placement.
In other words, to pay Canadian Corporate News for more PR releases, and to buy coffee and doughnuts for the "team."
a progress payment approximating $3 million
Who friggin talks this way, other than people trying to split legal hairs so they'll have some semblance of a defense if/when the need arrives.

I am appalled by recent specious press reports
Anyone dumb enough to buy this stock is right now at dictionary.com looking up specious, possibly even appalled.

our May agreement with IBM was the result of months of contract reformulation and requirements definitions that resulted in a clarity of scope of work and cost estimates that were finalized in an additional definitive agreement with IBM in May of this year

No effing way this dude didn't laugh his ass off as he typed this gem. The more I read that, the funnier it got.
Anytime you see "clarity of scope" mentioned in a PR, do like the Monty Python Holy Grail guys and RUN AWAY, RUN AWAY. Do not invest.

we are very close now to the fruition of thousands of manhours of work
Fruition. LOL.

Our accounting firm, Grant Thornton, is one of the finest in the world.
WHO???

We certainly are in concurrence
Good for them, have any of you ever been in concurrence?

proximity to closing of our private placement
How about proximating the cost and terms of that PP? Can you say off shore short arb. play boys and girls.

Mr. Burns