To: Barkley who wrote (570 ) 6/16/1998 2:26:00 PM From: Joseph Strohsahl Respond to of 738
Another aol post of some interest: Subject: From my notes etc... Date: Tue, Jun 16, 1998 14:09 EDT From: StockFelo Message-id: <1998061618095700.OAA10702@ladder03.news.aol.com> How Viking started their restructuring last year. Taken from my notes, conversations with management, conference calls and SEC filings: Viking acquired EPi Systems. EPi -a division of Viking Resources -acquired July 30, 1997 for VIKG restricted stock -an environmental and recycling co. which consists of pre-signed contracts in Europe to recycle municipal solid waste (MSW) through a $90 million facility to be constructed on the border of Poland and Germany . -as it stands there is a very large escrow account building which is growing from these pre-signed contracts to be used for the plant -taken from 9/30/97 financials; the escrow account is held by a law firm in Germany for EPi Recycling and Trading, Gmbh, a wholly owned subsidiary of EPi Systems, Inc. and is based upon $14.00 per ton of municipal solid waste (MSW) paid to EPi in escrow until the fuel pellet plant is under construction. The MSW is being stored on a land site near the planned facility. The current escrow account for EPi's favor is $10,150,000. (again, a 9/30/97 escrow account balance) -The international waste company's parent that Viking is negotiating with in Europe is expected will be the general contractors on the plant. Parent Co. is a few $billion company. -We are awaiting the close of this international division acquisition, which is stated to have over $200,000,000 in revenues per year, to move forward with EPi and start the construction of this plant. -EPi will be converting MSW into fuel pellets to sell to nearby utilities as alternative fuel -Gerald Kuhr, formerly the owner of EPi and now Viking's Chairman has been in negotiations to get EPi up and running. Last year, this has apparently lead Viking into talks of acquiring the Mid West plant from the European owners who Viking is now negotiating. Negotiations have since been ratcheted up for Viking to acquire not just the Mid West plant, but rather the whole international division with several existing facilities and a hundred or so contracts in place. This is all occurring and possibly being structured or being assisted in the structure under some form of recommendation or consultation from the international division's president who is expected to come on board and join Viking's management team. -we are all waiting for a very good announcement that will disclose the international acquisition and the anticipation of a management buy-out to boot -things of this nature take time As for posters like GoPlug and his smear campaign on a company that we want to succeed, you have to ask yourself what his/her motivation is? An investor? No, doesn't sound like it. A "short"? One who wants the stock to continue to fall? You be the judge. Some are judging the company based on the value of the stock which they have absolutely NO control over. They have a big undertaking and a lot of variables to tackle. Many of the operations with Viking are undeveloped properties, start up operations, and contracts that are expected to be developed or expanded upon in due time. Their pipeline is full. I for one think things will begin to turn for the positive as early as this week, or maybe next week! We'll have to wait and see.