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Microcap & Penny Stocks : Zulu-tek, Inc. (ZULU) -- Ignore unavailable to you. Want to Upgrade?

To: Terry T. who wrote (13459)	9/3/1998 8:31:00 AM
From: bambaata	Read Replies (2) \| Respond to of 18444

Terry================================================================= re your ??? As I am told, I understand it is a (C) reorganization so that the ESVS shares are distributed to ZULU holders on a tax free basis,once they are registered.

To: Terry T. who wrote (13459)	9/3/1998 9:48:00 AM
From: Jon Tara	Respond to of 18444

Thanks, Terry! Here's my understanding of the Utah statute. Please correct me if I am wrong, or fill in the missing details: 1. The statute provides for a number of things that a shareholder may may request in writing from the company. Question: is the company COMPELLED to provide these things? Or may they say "no, we are not going to?" 2. Among those things are financial statements. Question: if they are compelled to produce the financial statmeents, is that absolute? That is, are they only required to produce any financial statements that they have prepapred? If they have not prepared financial statements and don't intend to, are they compelled to do so once a shareholder has requested them? 3. Do you feel that if they do not provide you with financial statements per your writtern request, that they will then be breaking the Utah law? I just think it's odd that they would make such a point-blank statement about not preparing financials for the parent company. As you've said, whether or not they are required by law, it is still troubling that they would not do so - what sane company would not want to know their financial condition? Plus, this is surely required for tax reasons. Every company has to file a tax return, whether they made money or had any "taxable events" or not.

To: Terry T. who wrote (13459)	9/3/1998 10:36:00 AM
From: BlueFox	Read Replies (1) \| Respond to of 18444

4. It does not make sense (to me) that if you spend all the time preparing an audited financial for Zulumedia, you would not prepare consolidated financials for the entire company, in particular if the other subsidiaries and the parent have little or no activity to report; Should there be any concern over this from the perspective of placing debt and operating costs (or the other suspect transactions alluded to in the recent Wired article) on Zulu-Tek's books in order to make ZuluMedia's books look better? I suppose this will be unimportant once ESVS has bought the assets to Zulu-Tek, as they will have to report. It'll be interesting to see how the release of ZuluMedia and ESVS/Zulu-Tek consolidated statements is timed. BF