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Microcap & Penny Stocks : ECOI On the Move -- Ignore unavailable to you. Want to Upgrade?

To: Loren S. who wrote (658)	4/19/1999 7:46:00 AM
From: ColleenB	Read Replies (1) \| Respond to of 692

I'll post the information before this gets lost.... New Update - 4/18/99 Eco-Resources International, Inc. - (OTC:BB:ECOI) Overview PennyStocks4U.Com is proud to announce that we have exciting news regarding Eco-Resources restructuring! We have been in contact with Mr. Bailey several times over the last couple of days and expect to work closely with him over the next few weeks as the restructuring and merger is completed. Please note that all of the details are preliminary as Mr. Bailey is meeting with Care Free and Litech regarding the merger as we speak. Now on to the details... Everything we knew about ECOI in the past has been reversed. All deals related to the Gold Reserves and Entertainment ventures are being reversed and the shares issued are recalled and resigned. In a couple of days, ECOI will not be involved in any of the ventures we previously reported. After speaking with Mr. Bailey, Mr. Glatman, and Mr. Carey, we believe that this is a very positive thing. We do not believe that Mr. Carey and Mr. Glatman will be further involved with the company. Eco-Resources will be merging with Care Free Products in an all stocks deal with the combined entity to be renamed Magnesium Technologies. This will be completed on Friday morning April 23. The new CUSIP # is 559400-10-6 and the new ISIN # is US5594001068. The new ticker symbol has not been finalized but we will have the symbol by Wednesday. At the same time, a reverse split will occur with a ratio to be decided on Monday; the purpose of the reverse split is adjust the share price to between $0.70-$1. This is at the request of Care Free, and with an eye towards moving the stock off of the otc:bb and attracting new investors. Care Free is an independent US company of which Litech owns a controlling interest. Magnesium Technologies will hold the patents on a method of maufacturing Magnesium (Mg) based products, which are the lightest, strongest, and most durable in their class. The technical aspect is related to Russian aerospace technology of which Litech employs scientists. The current primary business is the manufacture of high-end bicycle frames which cost $95 for the low end to as much as $400 on the high end and sell for $300-1200 wholesale. Magnesium Technologies will own about 4800 of these currently in stock in Hungary, with the capacity to manufacture about 2000 per month. The frames are manufactured in Russia, painted in Hungary (they have a duty-free relationship with Russia) and then transported to the US and other countries for sale. The current inventory of bicycle frames is worth around $2 million. Plans are in the works to expand the product line to include low and mid-range models. Mr. Bailey has sent us a frame for our inspection. The frame is extremely light (around 1200 gm) and durable. We hope to have a review from a local bicycle racing professional in the next couple of days. We have also contacted several bike shops; all of them are very excited about Magnesium frames. Remember the merged company will be the only company worldwide with the technology to build Magnesium frames or similar products. Mr. Bailey also sent us some literature including scientific reports about the strength and durability of these products. We have reviewed this information and are impressed with the results. We will attempt to get this information in an electronic form and post it shortly. Magnesium Technologies is actively seeking new distributors worldwide for their mountain bike models. The racing models are made to order and have been very successful. Included with the literature was a list of races won using Magnesium Technologies' ultra-light frames. The racing frames are used exclusively by the Russian Olympic Team. Magnesium Technologies has also created prototypes of fully-collapsible wheelchairs. Please note that this could become extremely big business, possibly overshadowing everything else, as there is a huge market for wheelchairs and this would be the lightest available (about 5 lbs complete). Both companies are working on preliminary balance sheet which will be available before completion of the merger (Friday 4/23) which will include the total number of shares outstanding, how many shares will be issued in the merger, the value of all assets of both companies… etc. This will answer many of the remaining questions. We will continue to work closely with Mr. Bailey to make sure our subscribers are kept up to date with the merger, restructuring, and future businesses. We hope to have numbers from the company by Monday that will allow us to release price targets. Needless to say, we expect the merger to be very profitable for current ECOI shareholders. The previously published Investor Relations phone number, 702-259-1470 is correct, but calls may not be returned for some time due to the restructuring. After the restructuring is complete, a dedicated full-time person is planned for Investor Relations. pennystocks4u.com