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Microcap & Penny Stocks : VLVT (was CSMA) -- Ignore unavailable to you. Want to Upgrade?

To: DuGen who wrote (7761)	6/22/1998 1:44:00 PM
From: carolm	Read Replies (3) \| Respond to of 11708

I called Mike for an explanation. He said that the main reason for this was the $4MM asset of Sea soil that was the reason that LPS was purchased in the first place. They had difficulties in changing it into cash, (because of a ownership paperwork rather than marketability). The other influencing factors were that LPS had a higher percentage of expenses that offset its revenue numbers, and the fact that 2nd mortgages were not selling since everyone was refinancing instead. LPS did not know this was coming until this morning. He said that with retiring of shares, we all got a raise. Since enviontec was going to be up and running sooner than expected, it would be able to replace the revenues from LPS, but with much less expenses, so higher profitability and less shares = higher eps. This is good. I'm looking forward to the news of the well accepting its first load in the next few weeks. Carol