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Microcap & Penny Stocks : Madera International - Symbol WOOD -- Ignore unavailable to you. Want to Upgrade?

To: Proletariat who wrote (740)	1/24/1999 4:57:00 PM
From: Max Fletcher	Read Replies (1) \| Respond to of 1979

it is almost impossible that any company manages its books so conservatively that it would understate its assets(in this case timberland)by somewhere between 70% and 90%. An asset such as this would be valued based on the original transaction (ie when the co first acquired the land), which is why it may be significantly different from today's actual market value. As far as insiders buying, I think the Fernandez family already owns all the shares they need. Max

To: Proletariat who wrote (740)	1/24/1999 4:59:00 PM
From: Janice Shell	Read Replies (2) \| Respond to of 1979

We either have an incredible opportunity on our hands here or a real mickey mouse company that makes outlandish statements that have no basis in fact. Um, you said it, not me... What currency are we talking here, assuming the land in question will indeed be sold? Just a heads up, but Brazil's economy is, shall we say, experiencing severe difficulties at the moment. And yet WOOD has discovered it's got these remarkably valuable assets, and feels this is the right moment to sell 'em. Is there some part of this I don't understand?

To: Proletariat who wrote (740)	1/24/1999 5:11:00 PM
From: Proletariat	Respond to of 1979

Excerpt from WOOD consolidted Balance Sheet March 31, 1998: OTHER ASSETS: Investment in timber producing property(Note E) 27,972,394 Excerpt from NOTE E: "The Company acquired 478,000 acres of timber producing property located in Brazil as well as substantial acreage in Peru that are long term concessions from Ramiro Fernandez-Moris and his family. Management has used an appraisal to estimate the fair value of this investment. IT IS REASONABLY POSSIBLE THAT A CHANGE IN THE ESTIMATE WILL OCCUR IN THE NEAR TERM. Excerpt from press release of Friday, 1/22/99: "This exclusive marketing agreement calls for the sale of company owned timberland in the State of Amazonas in Brazil for a total price of US$ 96 million." Ladies and gentleman, all I can say is ...the sentence in bold above .....Understatement is not the word.