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To: Janice Shell who wrote (8165)	8/11/1998 9:27:00 PM
From: Jetter	Respond to of 11684

My understanding is that the $20 million convertible bond issue for which the company hoped to find an underwriter never got out of the talking stages. Janice, so now we are to believe that you able to sit in on board meetings and financial discussions? You are simply spreading rumors. Far worse than any hyper... If you have some information, please give us your sources and verification, otherwise you are just a rumor mill... ~Scott

To: Janice Shell who wrote (8165)	8/11/1998 9:29:00 PM
From: jhild	Respond to of 11684

Janice, here's a hypothetical that just occurred to me. I was thinking it's a good thing the current management isn't unscrupulous. Because if they had floated a bond issue for that kind of money, they would have had a lot of money to buy more land and leases with. Now if they proceeded to turn around and take that money and buy more tax lien property from say the very people that controlled the 50M shares, and they bought it at say inflated prices, that would have left the shareholders in an uncomfortable position of having assets that were over-borrowed against. That would have ruined the book value, I think. But fortunately, we know from all accounts that Jack and his crew are in it for the exploitation of the natural resources and not the exploitation of the shareholders.