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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed -- Ignore unavailable to you. Want to Upgrade?

To: Brukie who wrote (11150)	11/20/1998 1:52:00 AM
From: Fred Ragan	Respond to of 11684

Ever been to a Puppet Show Brukie?

To: Brukie who wrote (11150)	11/20/1998 2:02:00 AM
From: RavenCrazy	Respond to of 11684

Brukie, Brukie, Brukie -- >>As of right now he is paying for the lawyer and wants the shareholders to hold a meeting to elect a new board. It will favor us all if things work out. All Tow is doing is supplying the cash the board will have to work with each other not Tow!<< "to elect a new board." Okay, Brukie, WHO elects a new board? What do we get, one vote per share? Do you think anyone who is pursuing this deeply for any motive other than getting back the quickest dollar they can would have a chance of being on the board? You think maybe the board's not already picked? Oh, but you say (maybe), he will let "US" vote for him. Well, how many folks know that Mr. Tow has allegedly already signed a proxy for his votes to someone we never hear from, someone not at all involved in our little grunt-work endeavors. Well, folks, it's on a website, available to all (someone needs to post the URL) -- the proxy giving a person Mr. Tow allegedly met only one time all his votes. And what's REALLY weird... is that the NAME of the proxy is a pseudonym, and what's weirder... is that Mr. Tow allegedly KNEW that it was a pseudonym. This is what my Granddaddy would have said "just don't look quite right." Raven

To: Brukie who wrote (11150)	11/20/1998 2:50:00 AM
From: ~Owl	Read Replies (1) \| Respond to of 11684

It may not require that we work with Tow, but maybe just in Tow's best interests, just perhaps? (lifted from RB MTEI board) In regards to MTEI's possible Section 1244 status, (that is ability to write off 100% verses the normal $3,000.00/year limit) I'm afraid I have to say it does not qualify for the following reasons: 1)For the five years preceding the loss the corporation must have received more than 50% of its gross receipts from business operations. ICVI/MTEI and previous incarnations derived most (in some cases all) income from sale of stock. 2)Individual shareholders must have acquired their Section 1244 stock at original issue. Reverse merger presupposes pre-existant corporations, unlike IPO or venture capitalization. Even the 19 million suspected illegal shares were issued in ICVI's name and later exchanged for MTEI shares. 3)Again, reverse-mergers do not qualify; (see URL reference below) smbiz.com One of the easiest provisions to run afoul of is the requirement that the loss can only be taken on stock issued for money or property (other than stock or securities) and only to the original purchaser of the stock. The last requirement means that only stock purchased from the company on original issue qualifies. Look at the definition above. Only stock issued for money or property other than stock or securities. Thus,contributing a note to the corporation in exchange for stock will not qualify. The same is true of simply exchanging stock. Nor can you get the benefits by contributing services to the business. Sorry, I wish I could write my loss off too. ~Owl. . . me, too.

To: Brukie who wrote (11150)	11/20/1998 3:21:00 AM
From: Sharon	Respond to of 11684

Frank, I think you really need to think this through before taking on the role of "messenger" but more so advocate of Mr. Tow's plan. I'm including this message that I just sent to MoneyBaggs on RB..... ********* Paul, you wrote...."For your brokerage to notify you, or send you a proxy, they would have had to receive notification of a shareholder meeting from the company. I would assume this notification would come from the CEO. Unfortunately, MTEI has no CEO. At this time we are not even able to obtain, from American Registrar and Transfer, a current list of the shareholders." If no one has the authority to obtain a shareholder list from A.R.T. than I would offer that no one has the authority to call a shareholder meeting. Has it been established that MR. Tow has fiduciary responsibility for MTEI? I would assume that he would have to seek legal counsel to establish that. That being the case I would think that THROUGH LEGAL COUNSEL he would then have the authority to obtain a list of shareholders and therefore confirm exactly who the shareholders are that are to be notified either via mail or through a shareholder's brokerage firm. I think this issue brings up other matters. It has been said that Mr. Tow has sought an evaluation regarding the land valuations of the TLCs. No information has been offered to the shareholders regarding this valuation. What is the status of these TLCs? Is there a termination date on these or other ramifications? I would not offer personal information or empower him to act on my behalf without LEGAL notice of his authority, particularily since it appears that he is the one party that can gain a significant benefit, if only by taxable loss based on an asset that is,in some cases less then investments by other shareholders. Not trying to be picky here this is only my logical opinion.