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To: Ga Bard who wrote (3390)	12/15/1997 8:29:00 PM
From: CO	Respond to of 8835

Ga Bard, No CVIA did not previously have a Letter of Intent. Initially they had a Letter of Interest. They did announce they were focused on one specific private corporation to merge with. They have been working toward a signed Letter of Intent. They said in their last press release that the Letter of Intent is the next step. Then the completion of the merger. Actually a Reverse Merger is simply a process whereby a private company merges with a public company (usually a "pure shell") in order for the private company to go public. This is done instead of doing an IPO because it is far less expensive and is more feasible for smaller companies. Here is a site for anyone interested in the subject. gatewaysg.com (Click on Reverse Merger on the left side of the page.) Cheryl