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Microcap & Penny Stocks : NICM (National Institute Companies of America) -- Ignore unavailable to you. Want to Upgrade?

To: MicroKing who wrote (36)	5/21/2000 10:17:00 PM
From: bruceski	Respond to of 124

Here is what Microking is referring to. "During 1998, the Corporation decided to sell its investment in GFPI. Subsequent to December 31, 1999, the Corporation entered into a sales agreement to sell its investment for $2,500,000. Accordingly, the investment was written down to this value with a corresponding reduction in preferred stock Series B as of December 31, 1999." In 1998 the DECIDED TO SELL GFP. That is not the same as they sold GFP. If you look at the Balance in January of 1999, the preferred shares for GFP are still on record. In December of 1999 the shares are gone so therefore it occurred in 1999 between January and December.