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Non-Tech : RIHI - Merger with Internet Gambling Co, - Worldnet Gaming -- Ignore unavailable to you. Want to Upgrade?

To: Whisperer! who wrote (128)	2/28/1999 2:44:00 AM
From: Jeffrey S. Mitchell	Read Replies (2) \| Respond to of 363

The Company incurred liabilities of $66,300 for management services and expenses for the three month period ended September 30, 1998, to a related party. On March 31, 1998, the Company issued 5,000,000 shares of regulation 144 stock to the related company in exchange for $100,000 of accrued liability. At September 30, 1998, the Company owed the related company $160,139 which is included in accounts payable in the accompanying financial statements. The Company has entered into consulting agreements with individuals to help the Company locate and bring businesses into the Company. The terms of payment is to be by the issue of shares of regulation "S-8" stock. The Company has issued 3,000,000 shares of regulation "S-8" stock during the three month period ended June 30, 1998, some of the value is reflected as an expense and the balance as a prepaid expense. sec.gov Whisperer, explain to me how the company reports 8,426,647 shares are issued and outstanding yet 8,000,000 shares were given recently to "related parties". Please also tell me what you think about related party A who now owns $15,000,000 worth of RIHI stock and is owed $160,139, all for providing accrued liability of $100,000?! Lastly, since you are obsessed with shorts, might the dump this stock took starting right after 11/11/98 (the date of the filing; my, what a coincidence) from about $2 to .06 been due to the holders of the related party stock? Tell me, where else all that selling could have come from? Might there now be a heck of a lot more than 8M shares outstanding? tscn.com Me thinks thou doth protest too much. You wouldn't by any chance be plotting who to blame when RIHI takes another dump soon thanks to you, would you? - Jeff