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Microcap & Penny Stocks : FIX-CORP INTERNATIONAL INC. -- Ignore unavailable to you. Want to Upgrade?

To: JOEY who wrote (652)	2/24/1999 2:25:00 PM
From: JOEY	Read Replies (1) \| Respond to of 714

N.Y. Appellate Judge Grants Fix-Corp Interim Stay BEACHWOOD, Ohio, Feb. 24 /PRNewswire/ -- Fix-Corp International, Inc. (OTC BULLETIN BOARD: FIXC - news) obtained a temporary, interim stay from a judge in the Appellate Division of the Supreme Court of New York. Fix-Corp was granted the interim stay to extend the time in which Fix-Corp has to present its appeal of the judgment awarded to Chatham Partners, Inc. Additionally, Fix-Corp filed a Notification and Suggestion of Bankruptcy Stay with the New York court. In an effort to keep shareholders informed, Mark Fixler reports that this decision allows us to prepare this case for the appellate court and notifies the New York court of the Ohio bankruptcy filing. Fix-Corp is continuing its efforts of reorganization and has accepted the resignation of Roger Kittelson as chief financial officer. Fix-Corp International, Inc. filed for protection under Chapter 11 of the U.S. Bankruptcy Code on Wednesday, February 17, 1999 after a Cuyahoga County Court ruled in behalf of Chatham Partners, Inc., to vacate the Order issued in January, that Stayed Enforcement of $4.1 million New York Judgment pending appeal. A bond of approximately $374,000 remains on deposit pending final decision of the New York Appellate Court. Fix-Corp's four subsidiaries, Fixcor Industries, Inc., Pallet Technology, Inc., Fixcor Recovery System, Inc., and Poly Style Industries, Inc. have not been included in this reorganization. The Company will continue to keep shareholders apprised of developments. Fix-Corp International, Inc. is an international environmental-based recycler of post-consumer high density polyethylene (HDPE) and producer of recycled post-consumer plastic resin for use in the manufacture of high- performance plastic pallets through wholly owned subsidiaries Fixcor Industries, Inc. and Pallet Technology, Inc. The Company is also under worldwide licensing agreement with AlliedSignal to reclaim and recycle both oil and plastic from post-consumer HDPE motor oil containers through its wholly owned subsidiary Fixcor Recovery Systems, Inc. The Company is based in the Cleveland suburb of Beachwood, Ohio and can be found on the World Wide Web at www.fix-corp.com. Certain statements contained in this release, including, without limitation, statements containing the words ''believes,'' ''anticipates,'' ''expects'' and words of similar import, constitute ''forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. Given these uncertainties, readers of this release and investors are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward- looking statements contained herein to reflect future events or developments. SOURCE: Fix-Corp International, Inc.