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

To: Richard Mazzarella who wrote (32341)5/22/1998 8:59:00 AM
From: Tim Hall  Read Replies (1) | Respond to of 35569
 
Richard,

IPM dropped all proceeding against the state after the gag order. This is a dead issue.

Tim Hall



To: Richard Mazzarella who wrote (32341)5/22/1998 10:33:00 AM
From: Larry Brubaker  Respond to of 35569
 
Richard: In case you hadn't noticed, I acknowledged the $1 million payable to Omega is not an immediate issue. However, there are still $1.6 million of other current liabilities.

The current assets consist of the $500,000 from the bank loan, which also must be used as collateral for the bank loan, and the $460,000 worth of MGAU shares.

Even if Phoenix were to forgive the payment entirely, their liabilities still far exceed their assets.


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