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Microcap & Penny Stocks : EXSO -- Consolidated Eco-Systems (Exsorbet Industries) -- Ignore unavailable to you. Want to Upgrade?

To: ChrisJP who wrote (4453)	4/9/1998 12:15:00 PM
From: Bosco	Read Replies (1) \| Respond to of 5015

Dear Chris - I'd agree with your wait-for-confirmation assessment. However, from the financial standpoint, it is hard to say. I guess it really depends on how the $11MM [actually, $6.4MM, since the $4.6MM has been already expensed 2 Qs ago] are written off. If they are tied to illiquid asset, like deadbeat receivables etc, then it only impacts the superficial book value. I'd venture to guess maybe the Dollar Bank has some lien on 7-7 receivables, which may or may not be collectible. The upside of this seemingly bad situation, again depending on the way it is accounted for, is the deferred tax credit. I am not a tax accountant, but I'd guess there is some benefit down the road if EXSO can remain as a going concern. One thing I don't know is if this is transferable, should EXSO become a prey of consolidations. rgds Bosco