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To: Francois Goelo who wrote (641)	4/21/1999 6:00:00 PM
From: StockDung	Respond to of 10354

So what could the tangible asset be. Don't you think it strange Franshwa that they are keeping it a secret? The audited results revealed a tangible net worth for the company of $4,114,547 on total assets of $4,764,560. ''This is important for us as we are presently in the process of preparing a registration statement on Form 10-SB, with our intent to apply immediately for granting of its listing and trading on the NASDAQ Small Cap Market,'' Tobin stated.

To: Francois Goelo who wrote (641)	4/21/1999 6:00:00 PM
From: StockDung	Read Replies (1) \| Respond to of 10354

So what could the tangible asset be. Don't you think it strange Franshwa that they are keeping it a secret? The audited results revealed a tangible net worth for the company of $4,114,547 on total assets of $4,764,560. ''This is important for us as we are presently in the process of preparing a registration statement on Form 10-SB, with our intent to apply immediately for granting of its listing and trading on the NASDAQ Small Cap Market,'' Tobin stated.

To: Francois Goelo who wrote (641)	4/22/1999 1:33:00 PM
From: StockDung	Read Replies (1) \| Respond to of 10354

UNITED STATES SECURITIES AND EXCHANGE COMMISSION SECURITIES EXCHANGE ACT OF 1934 Release No. 41283 \ April 14, 1999 ACCOUNTING AND AUDITING ENFORCEMENT Release No. 1124 \ April 14, 1999 ADMINISTRATIVE PROCEEDING File No. 3-9872 PROCEEDINGS INSTITUTED AGAINST KEVIN E. ORTON, CPA, AND ORTON & COMPANY The Securities and Exchange Commission today instituted public administrative proceedings charging that Kevin E. Orton, CPA ("Orton"), an accountant in Midvale, Utah, and Orton & Company ("ORCO"), his accounting firm, engaged in improper professional conduct in connection with their audit of the consolidated financial statements of PanWorld Minerals International, Inc. ("PanWorld") at and for the year ended December 31, 1994. The Commission previously filed a civil action against PanWorld, headquartered in Salt Lake City, Utah, charging it and others with overstating its assets. The Division of Enforcement alleges that PanWorld's 1994 financial statements were not prepared in conformity with generally accepted accounting principles ("GAAP") because, among other things, PanWorld's consolidated balance sheet reported mining assets at substantially inflated book values derived from arbitrary par values assigned to unregistered and unmarketable preferred stock issued by PanWorld in exchange for those assets. Further, according to the Division, Orton and ORCO also recklessly disregarded applicable professional standards under generally accepted auditing standards ("GAAS") in their audit in that they failed to obtain sufficient, competent evidential matter, exercise due professional care and appropriate professional skepticism, and adequately plan the audit. A hearing will be scheduled to determine whether the allegations made by the Division and Chief Accountant against Orton and ORCO are true and, if so, to determine whether Orton and ORCO should be censured, or temporarily or permanently disqualified from or denied the privilege of appearing or practicing before the Commission. On June 2, 1997, the Commission filed a civil injunctive action against PanWorld, Robert Weeks, David Hesterman and several others charging violations of the antifraud, registration and periodic reporting provisions of the federal securities laws. That proceeding has been stayed pending the outcome of a criminal investigation which so far has resulted in the indictments of Weeks and Hesterman for violations of the antifraud provisions of the federal securities laws, among other things. In May 1998, the Commission instituted and simultaneously settled public administrative proceedings against PanWorld's prior auditors, finding that Warren J. Christensen and Terrence J. Dunne engaged in improper professional conduct in connection with their audits of PanWorld's financial statements for 1989-1992 and 1993, respectively.