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Microcap & Penny Stocks : WMCLQ (OTCBB) -- Ignore unavailable to you. Want to Upgrade?

To: Michael Graham who wrote (1)	11/5/1998 4:30:00 PM
From: Pe@cockm@n	Read Replies (1) \| Respond to of 16

WMCLQ has been in bankruptcy since 12/23/96, and several very favorable events have happened during 1998. (1) Niagara Mohawk restructured a power agreement that provided $30 million cash. (2) One of the Subsidiary was consolidated that allowed for consolidation for tax purposes that allowed WMCLQ to increase cash flow by using some of the $200 million in NOL's. (3) Increased shipments of coal. (4) Sales of some assets (5) over funding of Pension plan. The cumulative effect resulted in WMCLQ's cash increasing to $117 million. It was $1 million on 12/23/96. WMCLQ will pay all pre-petition liabilities estimated at $34 million. See SEC EDGAR for filing on October 15, 1998, that provides the basis for the dismissal. During 1997 and most of 1998 there was a Plan of reorganization that would have canceled the common stock. That plan has been withdrawn and the bankruptcy case will now be dismissed.