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To: Ken W who wrote (1002)	12/31/1997 1:16:00 AM
From: Sergio H	Respond to of 2377

Ken, I'll try to dig into it tomorrow. It's past my bedtime. Maybe Cary, who's on the west coast will get a chance to look into it. Sergio

To: Ken W who wrote (1002)	12/31/1997 9:11:00 PM
From: Sergio H	Read Replies (1) \| Respond to of 2377

Ken, I have to admit that I did not have the patience to read everything on PICO, partially due to the complicated deals and partially due to the incomplete and/or outdated material that I keep running into. PICO went through a merger than can be defined as a reverse acquisition, I know that you are familiar with that term (g). The company does have Korean and Japanese investments, as well as Candadian and US. I'm afraid that you'll have to fill us in on the rest. Sergio