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

To: Q. who wrote (5114)	2/23/2000 2:27:00 PM
From: Jeffrey S. Mitchell	Respond to of 7056

Interesting that CHCL announced it will buy 10% of HITT considering just last week they said they were going to spend their money to buy back their own shares: HONG KONG, Feb. 18 /PRNewswire/ -- China Continental, Inc. (OTC Bulletin Board: CHCL) announced that its Board of Directors approved a Stock Buy Back Program aimed at enhancing shareholders value by approving a buy back of up to 25% of the Company's common stock over the next twelve months. "This is a logical move because China Continental currently has surplus capital and a line of credit of over US$100 million... siliconinvestor.com Note that 25% of CHCL common stock (69 million shares out) at the 2/18/00 price of 1.625 (which they obviously considered undervalued), comes to an anticipated outlay of at least $28 million. HITT has 50 million shares out so 10% of that @$2 a share would be $10 million. Good thing CHCL has that credit line of $100M. ;^) - Jeff