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Microcap & Penny Stocks : HITSGALORE.COM (HITT) -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey S. Mitchell who wrote (4353)	10/5/1999 2:34:00 PM
From: Traveler	Read Replies (1) \| Respond to of 7056

LFT (or Wilcher) is probably not an operator of the field, they/she is probably a non-operating, working interest owner. The Texas RR Commission would have (I think) a list of working interest owners, for tax purposes, but the site you looked at was a production site which would (from a quick review) list the operators. They/she could also have an internal royalty (assigned from a working interest owner) which would not necessarily be a registered interest - a less secure form of ownership. I'm completely theorizing here, I know from my O&G days that there were as many different types of deals struck as there are flies swirling around a Hitt press release. Additionally, due to the language Hitt used, LFT may own a production payment which was then assigned to Hitt. Their language is very vague which makes it extremely difficult to pin down what type of ownership does, or doesn't, exist. All my opinion, of course.

To: Jeffrey S. Mitchell who wrote (4353)	10/5/1999 3:26:00 PM
From: Q.	Read Replies (1) \| Respond to of 7056

stock is now below 1 1/2. FWIW, the market cap is now well below the amount of cash that LFT owes to Hitsgalore for the local city editions and the private placements. Clearly the market is beginning to say "we don't believe in LFT." Beginning, but not done. I don't think the LFT debacle is fully discounted. IMO, if it should turn out that LFT is unable to pay anything, then the market cap of HITT should collapse another factor of 10, on top of the factor of 10 that it already has fallen since the first Bloomberg story. I think there's a potential of this becoming a fifteen-cent stock.