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Pastimes : Thread Morons -- Ignore unavailable to you. Want to Upgrade?

To: Janice Shell who wrote (10227)	1/6/2001 8:09:43 PM
From: ISOMAN	Read Replies (2) \| Respond to of 12810

So in Mid Novemeber, NRPI (NOW NRES) files an 8k and tells of a merger/debenture deal... So I warn all of the devoted that it is going to slaughter them... Turns out that the merging comany "2217 Acquisition inc" was a Nevada Corp created on Sept 22nd, by Richard Astrom, Ceo of NRPI(NRES) Well, Richard writes up this "Floorless debenture" Lending 2217 Acquisition inc $1 million ....of which he pays $300,000 up front, then subtracts 2 years of interest and a finders fee (Totals $205,000) and then he has to issue the remaining $495,000 at a later date... OK... So Richard Astrom has a debenture issued to 2217 Acquisition inc for $1 million of which he fronted $300,000 Next 2217 and NRPI(NRES) merge and NRPI(NRES) assumes the debenture... OK.. So, Astrom has a convertable that is floorless for $1 million worth of NRES shares... And I spelled all of this out for these people in Novemeber...the stock was 3 cents at the time... So... Fast forward to January.. NRES announces a forward split of 3:1.. a 1.5 cent stock (that's where it went after the debenture news) Announces a 3 for 1... And the NRES alumni are euphoric... Oh, on other point.. That $300,000 that Astrom lent to 2217, then nres... Well...last year NRPI(NRES) loaned Richard Astrom $302,000 at 8%...3 months later in a SEC filing he announces that the loan has been converted to a management fee including unpaid interest..... So... Here is an example of what the NRESers have to say to me for my Detective work: ragingbull.altavista.com