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Non-Tech : MILLIONAIRE. COM........( MLRE ) -- Ignore unavailable to you. Want to Upgrade?

To: Robert Cottage who wrote (1624)	1/22/1999 9:01:00 AM
From: Bear Down	Respond to of 2664

for those who are interested... When MLRE was formed it was done through a form 504, which according to the SEC let's a company raise up to $1,000,000. In the case of MLRE (which is standard) that meant 1,000,000 shares at $1. This was more than likely, and according to my info, done by Mr. White, Mr Smith and friends. This is exactly what one would expect. However....... My understanding, and one of the questions I have had a hard time getting an answer to, is now that this same group is the lucky placeee of the $2.50/share financing for 1.800,000 shares. Now MlRE claims the deal was done before trading started and that is why it is legitimate that it was done so cheaply with so much dilution. It doesn't take rocket science to realize that as long as MLRE hit a couple of bucks a share it would have been very easy for the insiders to sell (or short) shares of MLRE to raise that money and then reward themselves with cheap shares. At an average of $20 /share, these insiders would only have to sell (or short) 225,000 shares to recieve 1,800,000 shares........not a bad deal. The reason I find this important is because all along i have wondered who would be responsible for the false hype spreadhere by kieko, both about the grand opening ,just in time for options expire, and now the april auction that MLRE says is not on the schedule. It would seem to me to probably come from the sources that saught such a nice payoff. This is all my opinion based on info gathered. If you have a conflicting opinion feel free to share it. This should not be used for investment advice. Now I ask all posters.... Do you have a piece of this financing? To make it clear....It is my understanding that the same group did both the 504 financing and the subsequent $2.50/share financing. And it was like pullling teeth to get that info, and it didn't come from talking to Mr. Charming because he wouldn't answer that question!! No wonder.