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Microcap & Penny Stocks : Computerized Thermal Imaging CIO (formerly COII) -- Ignore unavailable to you. Want to Upgrade?

To: peter michaelson who wrote (4426)	6/27/2000 2:41:00 AM
From: peter michaelson	Read Replies (1) \| Respond to of 6039

. The Company initiated litigation in 1998 against a former director to recover shares of the Common Stock, or resulting damages, that had been issued to the director in consideration of an agreement and representation to deliver a commitment from SPRINT, or a similar telecommunications company, to contribute a substantial amount to the Company for immediate delivery of planned China production of CTI Systems. The shares were issued, but the stockholder failed to perform the promised consideration. During the year ended June 30, 1995, the Company issued 1,000,000 shares of the Common Stock to Richard Thompson, a former director of the Company, based upon the director's representation that he would arrange large scale financing by certain proposed contributors.