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To: James Simonick who wrote (7420)	12/22/1998 9:53:00 PM
From: Warren A. Wilbur, Jr.	Read Replies (1) \| Respond to of 40688

Well Jim. could be. Makes sense. I am not too worried about the PP ,sure much rather see it offered to investors but your explanation makes too much sense, if they use it as a form of payment (and not to raise cash) well that's why they gave them the shares at better than market price, sort of like stock options, and if you think in terms of stock options, 4 mil. ain't much these days in corporate America. What will get me excited is if the total number of shares will get close to the Max number. But at this point we are not even close, we are still at about 42 Mil. I did write to PNL today though and asked them to clear this issue . No reason to get too excited, nothing has changed. As far as announcements, I doubt they'll announce anything this year, just makes a lot more sense to wait till Jan. That's what I would have done if I was the CEO <G> Regards

To: James Simonick who wrote (7420)	12/22/1998 11:48:00 PM
From: ztect	Read Replies (2) \| Respond to of 40688

James- Your points about the pp are part of the reason why it is very important for PNL to become a fully reporting company. If PNLK was fully reporting, they would have disclose the terms of the pp or any other material event that effects share holder value in a form 8-k. Until PNL takes this step to become voluntarily fully reporting, all we really can do is speculate about the terms of this disclosed or any other undisclosed agreements. Speculation doesn't instill share holder confidence or attract new investors. I personally hope they make the decision to become fully reporting very soon. The 15c211 is a step in the right direction, but that form is not a 10-sb or 10-q. To not become fully reporting to me, at least, is a sign of arrogance directed towards the shareholders who have been supporting their company. Sorry if my objectivity offends people....but being objective is just part of who I am. Sincerely, z