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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: Larry Brubaker who wrote (31398)	4/3/1998 4:53:00 AM
From: BillyZoom	Read Replies (2) \| Respond to of 35569

The $260,000 for salary and compensation tabled to Furlong for 1997 appears to include his compensation from MGAU and NCMI. In fact, part of the compensation to some of the executives and employees of IPM was paid by MGAU and NCMI. The majority of IPM's 1997 advances to MGAU and NCMI of $668,000 (really $1,104,000 written down $436,000 to current market value) "result from an allocation of overhead expenses and the use of (IPM) personnel."(Note3). "(IPM) in 1997 made non-interest bearing loans to (NCMI & MGAU) to cover the operating office expenses...including the partial salaries of IPM employees.""(NCMI & MGAU) utilized employees of (IPM) to carry out normal technical and financial duties, with allocation of expenses associated with each function accrued over time" (pg 26) Quite simply, the shares were issued to IPM from NCMI&MGAU in lieu of cash for loans and services rendered. They were then partially sold by IPM to help balance the administrative costs incurred in contracting out their staff and facility, senior officers included.

To: Larry Brubaker who wrote (31398)	4/3/1998 8:43:00 AM
From: Turboe	Read Replies (2) \| Respond to of 35569

I totally agree with you! And how much money did they make from their Panama Corp.? Did they trade the stock with that Corp. brokerage account in the Caymens? Oz? Bermuda? Belize? Isle of Man? Bahamas? (Btw, I am moving to C.A. to consult with individuals and companies who want to set up offshore entities. I know how the game is played!) Why a Panama Corp.? Why LF? Anyone want to start a class action suit? Where is CL/Frank/Matt? Where is the stupid chick? Where is the guy now on BOD's? WHERE ARE THE CHEERLEADERS AND HYPERS? I KNOW: Counting their money...