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To: Jack Hartmann who wrote (1402)6/2/2000 6:43:00 PM
From: Jack Hartmann  Read Replies (1) | Respond to of 1413
 
*We entered into a Letter of Intent to acquire Zocchi Distributing Inc., a
distributor of games and science fiction/fantasy products. The Letter of Intent
expressly provides that as a condition to the Zocchi acquisition we must cause
to be removed the personal guarantee by the sole Zocchi shareholder of Zocchi's
repayment of its bank debt. Given our financial condition as reflected in our
December 31, 1999 and March 31, 2000, financial statements, we think it unlikely
that such condition can be satisfied absent our receipt of substantial
additional financing or dramatic improvement in our results of operations, and
we can give no assurance that either will occur in the near future or at all.
Accordingly, it is premature to conclude the Zocchi acquisition is probable.
*************************
Haven't studied this Zocchi deal enough.
Jack