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Microcap & Penny Stocks : MIDL .... A Real Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: FARcom who wrote (3809)	8/16/1998 1:41:00 PM
From: Dusty	Respond to of 7039

FP, the ships may well be two sides of the same one. However, another concern is the ship does not display anything that would indicate it belongs to NHSA which is unusual. Most shipping companies proudly display the company name and flag of their county. This is not an accusation against anyone, however it is a fact that the picture could have been taken in any port of call. As shareholders it is our responsibility to KNOW this ship actually belongs to NHSA and be able to document it as factual. I agree; more than one opinion is always good. It is time we trust no one ; doubt and question everyone and everything connected to the company. If what is said and portrayed as truth ,is indeed true, there should be no resistance or hard feelings on the part of anyone. Jeff and Gary, have both pointed out that Charlie Stidham and Mark Pierce have used their own time and resources to assist the company and shareholders. This is well and good and to be commended. However, behind every man's actions there is a motive. We would all like to believe that the intentions of all connected with this company are honorable, but such has not proven to be the case. Therefore, we all have the responsibility to judiciously watch and evaluate the actions of anyone connected to the company; regardless of how noble they appear to be. Dusty

To: FARcom who wrote (3809)	8/16/1998 3:06:00 PM
From: Binder	Read Replies (1) \| Respond to of 7039

FP, I hope you are correct about the Bahamian government wanting to clean house of criminals who seek exile for themselves AND the loot. As for the financial info that I have, there are a few reasons I have not displayed all of this. 1) I have forwarded a copy of everything I have to a gentleman at the SEC. I want to confirm his receipt prior to sending to anyone else. As of about 2:00pm Friday, he had not yet received my package. 2) Since there has been no announcement that an agreement has been reached, I think it is a little unfair to broadcast someone's financials over the internet. However, if a deal is announced, it is, imo, fair game. I don't think it is of confidential nature, but, of course, I will seek legal advice before putting it our for public review. With that in mind, here is what I have. I have financials on two shipping companies, who at the time of CNHHs consideration, were represented to me to be wholly owned subsidiaries of NHSA. Whether they were, either at that time, or at the present time, has not been confirmed. However, if you look at the news release, it says something like MIDL is in negotiations to acquire the "shipping operations of" NHSA, leading the reader to believe that Noble House itself has other holdings, and will be going about its own business after the transaction is complete. This needs to be clarified. Also, the financials appear to be certified, and include a cover letter from what appears to be an auditing firm located in Athens, the auditors name, some kind of permit or licensing number, and what appears to be a copy of a seal or crest. However, they are dated December 1996, so there is likely a more current set out there somewhere. It totals about 50+ pages, so it is going to be a real b**ch to scan and send. Also, some of the pages are written in Greek. I am in the process of getting a full written translation of the Greek part, but I am at someone else's mercy as to when I will actually receive that. So, to answer your original question, no, I do not think I have enough information to adequately determine the book value of anything. :-) Binder