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

To: David T. Groves who wrote (1692)	4/14/1999 11:57:00 AM
From: tonto	Read Replies (1) \| Respond to of 1979

Dave, thanks for your post. It is an excellent point to start from. Hopefully our combined efforts shall be productive in establishing greater confidence in the numbers. Every penny stock I have investigated over the years which has its primary business in a difficult area to research eventually proved to be a loser for investors. Too many investors have lost money because of this. John's post can be considered, but with the properties so far from each other, the difference in values can be considerable. I was told, about a land sale which took place several weeks ago where 12,000+ acres was sold located about 150 miles from Madera and about 20 miles from the river. Know one knows what the land looks like other than it was sold for $139 per acre at the time. The land could be high land or low land w/a tree or w/o trees. This price is above average. As for the line:(1)When referring to this land in the last annual 10ksb (Nov. 6, 1998), they stated that "It is reasonably possible that a change in the estimate (of the Brazilian 708k acres) will occur in the near term" They used that quite frequently throughout the filing, including the loss reserves for receivables. I do not place much weight on that statement for investment purposes. I will upon my return next week try to come up with some additional information for investors who follow this thread. Good luck.