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To: David W. Tucker who wrote (714)	1/28/1998 5:49:00 PM
From: Jay D.	Respond to of 7701

Dave, The way I see it is that if Noram is close to some sort of merger/jv/financing then there most likely is not anything wrong down in V-land or Noram wouldn't have much of a bargaining chip in order to get an agreement. Also if an agreement is close this would explain the QP we are now in. Patience is a virtue, be virtuous! Jay

To: David W. Tucker who wrote (714)	1/28/1998 7:23:00 PM
From: Carl Jackson	Respond to of 7701

David I understand your impatience however, I think that any "all out assault" will probably result is us learning nothing and at the same time may even be counter-productive. I am taking a great leap in faith in this but I am willing to believe that the VLTs are operational. My reasoning is that if they were not operational, that fact is something that the company would most definately be aware of (despite the allegations of poor communications and whatever else) and it would be illegal for them to withhold that type of information from the shareholders. Also, this is something I do not believe George would do. By having retained Starr Securities, with its presumed depth of experience in JVs, financing and mergers, you may be able to assume that the legal ramifications of Norams action or inaction, regarding news releases has been fully explained and that the companys actions are within the law. One thing I would like to know though, is when Starr was hired by Noram. I am guessing it was well before the news release last Monday. Otherwise we may be in for a wait. Also, though I agree with you that if something is not released soon (relative term) we may start to see a downward pressure on the stock, I am again not really worried. If the negotiations (assuming there are some) are on-going or nearly completed, the resulting share price will probaly not be significantly impacted whether the run starts at $0.30 or at $0.20. JMO and I'm not selling until this thing plays out.