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Gold/Mining/Energy : CNHH C.N.H. Holdings ... Gas & Oil / Service -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (83)	10/10/1998 9:31:00 AM
From: Ga Bard	Read Replies (3) \| Respond to of 115

No Matter What You Do In The Market. There Are No Guarantees! A stock option registration was filed with the SEC on CNHH on December 10, 1997 and offered to a group of investors… CNHH Registation SEC Filing Dec 10, 1997 (National Discount Brokers would not let you buy the security on the open market until 12-22-97 ... 12 days later and the bid was .35 and the ask was .50) Note: The last section of the SEC filing is the option for Charles Stidham. On December 11, 1998, others and I verbally agreed to buy some of the $.50 stock option that was awarded to Charles Stidham upon the termination of his consulting contract. Below is the price of the stock on the date we verbally agreed to buy the $.50 option. Date Volume High/Ask Low/Bid Close ------ -------- --------- -------- ---------- 12/11/97 37,500 0.35 .3125 .3125 Please note: CNHH is a Nevada Corp. and the option can carry a note under State Security laws. Now the others for various reasons decided to decline a few days later. One person did not like the paying a premium, another wanted paperwork, and another declined because of building a new house. I, however, did not and ordered 75,000 shares of the free trading stock option. (25K for myself, 25K for my son and 25K for my daughter) On Feb. 18, 1998, I received a Certificate for all the stock in my daughter's name for her account which is considered good delivery which I then owed $37,500.00 for the stock. Please note: I am a divorced father and have had full custody of my son and daughter since they were born. I have opened them stock accounts which I am trying to build so they can have these stocks for their future. Well, because the certificate came in only my daughter's name, my broker refused the certificate. The certificate was returned to be put in my daughter's and my name. I did not get the certificate again until June 18, 1998 which came in my name only. Now I got good transfer at that time. However, I had stepped into the IR role for Midland and I was afraid to sell Midland at that time to pay for the CNHH stock which might be considered inside trading. Please note: I agreed to pay for the stock on good delivery, which I thought, was good transfer. Also I could have sold 1200 shares of MIDLP at $35.00 and had the money to pay for the stock option which I did not. Good transfer is when the stock reaches your broker's account and clears. So since February I have been dunned for the $37,500 which I have refused pay until good transfer. Also note that at the time I got good transfer Midland was in a major mess because of the Arcon acquisition. The bottom line is at the time of good transfer I did not have the money to pay for the stock. Catch 22: Once you receive a stock certificate you owe the money and the stock is yours PERIOD. The seller does NOT have to take back the stock legally and can sue you for the money if you do not pay. Plus you will owe all attorney fees for the collection suit. Please note: Sometimes, you pay for stock and you don't get it which is why, under legal advisement, I waited for good transfer. I am being dunned for the money and have been given a little more time before action is taken against me because of the Midland mess. Summary: Verbally agreed to pay .1875 more for the stock than the market price. (DUMB) So I paid a major premium. I received good delivery in Feb. 1998 but not good transfer. I received good transfer in June 1998 but Midland was in deep trouble plus I was the IR and could not sell. Being hounded since Feb for the $37,500.00 Did not sell any Midland in the $35.00 range to pay for the option. (DUMMER) Should have BTSed 1200 shares. I have a situation where they do not want stock back, they want the money which I do not have. Moral…. Even with an attorney's verbal opinion and everything was checked out there are NO GUARANTEES. I have a financial dilemma at the present moment. If they will not take the stock back, I am hung with this debt that I owe. Oh and for those that speculate I hate for you.