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

To: Q. who wrote (5014)	2/1/2000 11:20:00 PM
From: Q.	Read Replies (1) \| Respond to of 7056

In early 1998, the Federal Trade Commission ("FTC") filed a lawsuit against Tom Maher, former President of IBB, Audrey Reed, and Mr. Reed for failure to refund money to customers and allegedly misleading investors about the potential return on their investment. In April, 1998, Mr. Reed filed an answer to the FTC complaint, pro se, denying all the allegations, and did not receive any subsequent correspondence from the government. Mr. Reed says he was unaware any case was pending against him until stories appeared in the press and he was served with a default judgment at the Hitsgalore.com office in Rancho Cucamonga, CA on May 11, 1999. The judgement served on Mr. Reed informed him that a federal judge in Baltimore issued an order in April, 1999 for he and his co-defendants to pay $613,110 to 100 customers of IBB. After being served on May 11, 1999, Mr. Reed immediately and pro-actively contacted the FTC through counsel regarding the matter. As of May 20, 1999, Mr. Reed is exploring his legal options for resolving the dispute, including the possibility of appealing or vacating the judgment. from the 10 k filed May 26, 1999 edgar-online.com