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Microcap & Penny Stocks : ABTX - Agribiotech -- Ignore unavailable to you. Want to Upgrade?

To: drakes353 who wrote (8339)	2/2/2000 2:17:00 PM
From: The Ox	Respond to of 8359

Department of Agriculture Offers Possible Relief to Growers Affected By ABT Bankruptcy OLYMPIA, Wash.--(BUSINESS WIRE)--Feb. 2, 2000--Seed producers doing business with AgriBioTech, Inc. (ABT), may be able to recoup some of their losses. The company announced Jan. 24 that it will file bankruptcy so it can implement an operational restructuring and financial reorganization. The state Department of Agriculture holds a $220,000 surety bond on ABT that could provide partial payment to those that qualify. Under state law, producers who sell, ship or deliver agricultural products for processing, sale or resale may be eligible. State law gives Department of Agriculture authority to make a claim against the surety bond on behalf of qualified producers. "This bankruptcy is a terrible blow to an industry already suffering the effects of a weak agricultural economy," said Jerry Buendel, manager of the Commission Merchant Program. "We anticipate there will be many qualified claims, and that the value of the bond will not be sufficient to satisfy them all. Growers should contact their personal attorneys to determine if they have other legal options." The process begins by filing a verified complaint with Department of Agriculture. The deadline is April 1. To obtain a complaint form call Department of Agriculture in Olympia at 360/902-1854 or in Yakima at 509/225-2616. Forms also are available from Alfalfa Seed Commission and the Turfgrass Seed Commission. Both commissions can be reached at 509/547-5538. If you believe you are qualified to file a claim against AgriBioTech, or are unsure, send a completed complaint form to the Washington State Department of Agriculture, Consumer and Producer Protection Division, PO Box 42560, Olympia, WA 98504-2560 or FAX: 360/902-2086. Investigators at Department of Agriculture will work to identify all potential claimants on the bond. The $220,000 will be distributed on a pro rata basis to eligible claimants. Eligibility for a share of the bond will be determined after the verified complaints are investigated. In 1999, Washington turfgrass and alfalfa seed producers contributed $23.9 million to the state's economy. CONTACT: Department of Agriculture, Olympia Jerry Buendel, 360/902-1856 or Linda Waring, 360/902-1815

To: drakes353 who wrote (8339)	2/2/2000 8:58:00 PM
From: PO Stahl	Read Replies (1) \| Respond to of 8359

Drakes or anyone else, Do you have any idea who Vector Enterprises is?? I just received this in the mail today.... "January 28, 2000 Dear customer, Vector Enterprises extended the offer to purchase up to one percent of the total outstanding shares of Agribiotech Inc. common stock. The offer now expires February 3, 2000. The terms of the offer are as follows: cash in the amount of $1.50 per share. There is no withdrawal privilege afforded this offer. The Advanced Clearing deadline for participating in this offer is January 31, 2000. It is imperative that we receive your instructions to participate prior to this deadline. Any instructions received after the Advanced Clearing deadline will be processed on a "best-efforts" basis. Since the above offer is non-obligatory, if you wish to participate, please contact your broker. If you do not wish to participate, please disregard this notice. Your broker is: Ameritrade 800-669-3900 The fee for participating in this offer is $25.00. Sincerely, Advanced Clearing, Inc. Reorganization Department" What does someone want with just one percent? Or are they hoping to garner more with a possible takeover in mind? Drakes, what is your take on this? Paul