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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (52464)	3/5/2000 9:44:00 AM
From: Anthony@Pacific	Read Replies (2) \| Respond to of 122087

LOCL<-----------Oooooooopsss!!! More troubles at theePUMPOramma!!!!!!!! ( THIS SEC ACTION Couldn't have anything to do with us could it ??? Hmmmmmmm )( BY the way we gave the NASD ..all the info they need to to see that this was a scam and they did nothing ..absolutely nothing...) BN Saf-T-Lok Sees Possible Restatement, Discloses SEC Inquiry Jul 21 1998 14:38 Saf-T-Lok Sees Possible Restatement, Discloses SEC Inquiry Washington, July 21 (Bloomberg) -- Saf-T-Lok Inc. said the company may restate first-quarter earnings and disclosed that the U.S. Securities and Exchange Commission is seeking company documents as part of an informal inquiry. Independent auditors for the Tequesta, Florida, company have ``expressed concern' regarding the valuation of warrants to purchase 2 million Saf-T-Lok common shares at $5 each, according to a Saf-T-Lok news release. The company said it issued the warrants in connection with a February, 1998, distribution agreement with United Safety Action Inc. Saf-T-Lok employed an alternative to the widely-used Black- Scholes model to assign a value of $473,525 to the warrant package, the news release said. The company is accounting for the warrants by deducting their value from quarterly earnings over a three-year period. The company has hired an independent expert to consult with its auditors on the value of the warrants. If they assign a different value to the warrants, Saf-T-Lok may have to adjust the amount deducted from earnings for the quarter ended March 31, 1998, according to the news release. ``The company does not believe that restatement of the first quarter financial statements, if required, will affect its cash position or have a material adverse effect on its current operations,' Saf-T-Lok said. Meanwhile, the SEC has asked Saf-T-Lok to produce documents on a voluntary basis concerning the company's business and securities. Saf-T-Lok officials couldn't be reached for further comment. Saf-T-Lok produces two safety locking devices that preclude a weapon from being fired by an unauthorized user. The devices use a coded, touch-oriented mechanism that engages the safety. Trading in Saf-T-Lok shares halted this afternoon. The shares last traded at 2 25/32. --Miles Weiss in Washington (202) 624-1879/ge