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Microcap & Penny Stocks : Zulu-tek, Inc. (ZULU) -- Ignore unavailable to you. Want to Upgrade?

To: I Am John Galt who wrote (7610)	5/27/1998 1:15:00 PM
From: PartyTime	Read Replies (2) \| Respond to of 18444

Jon, it appears you were wrong when you denied that Zulu would own 80% and that ESVS would own 20% "OF THE RESULTING ENTITY" [caps for emphasis]. What else have you been wrong on? The March 16, 1998 ESVS SEC S8 Filing: 7.04 LIMITATION ON EQUITY. If during the period from the date hereof until March 1, 1999, ZULU-tek or Enhanced undertake a merger, consolidation or similar transaction or form a new entity which is owned by their current shareholders or a successor to either of them, the capital structure will be such that if the same were undertaken on the date hereof, the shareholders of ZULU-tek would hold 80% and the holders of Enhanced would hold 20% of the resulting entity ("Deemed Ownership"). In addition, if ZULU-tek or Enhanced elect to issue additional shares of their common stock or capital stock convertible into Zulu-tek Common Stock or Enhanced Common Stock, as the case may be, in order to effect independent corporate acquisitions or other transactions (other than as contemplated by

To: I Am John Galt who wrote (7610)	5/27/1998 1:24:00 PM
From: PartyTime	Read Replies (3) \| Respond to of 18444

Now, regarding when the audit is to be released from Zulu to ESVS. I remind you it does not state it must be released to the public. However, it is released so that the ESVS shareholders may vote on it. That action, in itself, will make the Zulu audit public. In effect (go back yourself and check the EXACT wording), it says that: Zulu shall CAUSE [caps for emphasis] to be completed .... Now, the operative word here is "cause." Terry help me out here, but I think this COULD mean that it must BEGIN its process for completion within 45 days, which would mean that Aleta's assumption of the May 1 date (that everybody picked up on) was erroneous.