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Gold/Mining/Energy : L S Capital / Griffin Gold (OTC:BB CHIP) -- Ignore unavailable to you. Want to Upgrade?

To: ges turner who wrote (3217)	2/12/1999 3:52:00 PM
From: W.F. Schwertley	Respond to of 3594

Dang, there goes my only hope for CHIP. I've never understood the true meaning of a spin off. Nevertheless, I'm pretty sure the average share holder ends up on the losing end of the stick, while the instigators of the spin off come out smelling like...oh well. Someday, I hope to have the time to research it more. Until then, if you're long you're wrong! Except for Richard. WFS

To: ges turner who wrote (3217)	2/12/1999 7:07:00 PM
From: W.F. Schwertley	Read Replies (1) \| Respond to of 3594

ges, According to CHIP's May 14, '98 press release; "LS Capital provided operating guidance, high value-added management involvement, and a small amount of capital to JVWeb. The spin off will transfer to the stockholders of LS Capital a portion of LS Capital's stock ownership in JVWeb. In this manner, stockholders of LS Capital will participate directly in any success that is achieved by JVWeb. After JVWeb becomes public, LS Capital will retain an ownership position in JVWeb." We know that the 'small amount of capital' was 5k. But I don't believe we know what 'ownership' of JVWB currently means. WFS