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

To: Anthony@Pacific who wrote (53880)	4/3/2000 12:51:00 AM
From: Whisperer!	Read Replies (1) \| Respond to of 122088

EATCE has filed a Form 10SB. There are 9,950,240 shares of Common Stock issued and outstanding as of the date of this filing. No sales No assets No earnings Item 4. Recent Sales of Unregistered Securities. The Company issued 520,018 shares to the stockholders of 21ST Century Frontier Group, Inc. ("21st Century") in exchange for their shares of 21st Century in a transaction designed to change the Company's state of incorporation to Nevada from Florida. On April 1, 1999, the Company acquired Eagletech-Florida in exchange for 5,000,000 shares of common stock in a private transaction, of which 4,882,401 were issued to the principals of Eagletech-Florida and 117,599 were issued to debtholders of Eagletech-Florida. On April 5, 1999, in order to raise additional capital, the Company issued 3,333,333 shares to investors in an offering exempt under Rule 504 of Regulation D. On May 5, 1999, the Company issued 675,002 to officers of the Company as compensation in a private transaction, and an additional 150,000 shares were issued as compensation to consultants. GOING CONCERN As shown in the accompanying financial statements, the Company incurred net losses of $57,481 and $136,292 for the years ended March 31, 1999 and 1998, respectively, and as of March 31, 1999, the Company's current liabilities exceeded its current assets by $291,781. During the nine months ended December 31, 1999, the Company incurred additional net losses of $9,024,701. The Company's continued existence is dependent upon its ability to resolve its liquidity problems, principally by obtaining capital, commencing sales of its products and generating sufficient revenues to become profitable. The ability of the Company to continue as a going concern is dependent upon obtaining additional capital subsequent to the merger with GHE (see Note 9). The financial statements do not include any adjustments that might result from the outcome of this uncertainty. 6. CONVERTIBLE DEBT In 1998, the Company issued unsecured convertible notes in the amount of $88,200, due on demand, with interest accruing at seven percent. Subsequent to March 31, 1999, the notes were converted at $.75 per share to 117,599 shares of common stock. At this time, the accrued interest of $12,138 was contributed to capital. That's for a start.....