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Pastimes : HYPE AND HYPESTERS DENUNCIATION CENTRE -- Ignore unavailable to you. Want to Upgrade?

To: bob sims who wrote (513)	5/13/1999 8:47:00 PM
From: Mad2	Respond to of 612

Bob 1st we hear about Life trust 100mil investment, purporting to have 1 bil in assets. biz.yahoo.com 10 year search on Lexis Nexis turns up nothing on Life Investment Trust or Ms. Wilcher, they aren't listed in ABI's national directory either Message 9503236 Now of course we find that the 100mil will be a swap of HITT stock of J/V in production leases on oil wells biz.yahoo.com While Life Investment Trust claimes to be contributing production leases with monthly cash flow of 1.5mil, how much interest does HITT get in the purported J/V. The oil feild jargon about reserves implies 100mil in reserves in the ground, but of course what does it cost to get it out and addl investment to reach those reserves. In other words it sounds like 100mil in potential revenues that could be realized through a J/V whose owenership % by HITT hasn't been specified and whose costs aren't properly idenitified putting into question the net income available from the purported leases. Makes me wonder how Life Investment Trust has arrived at their claim of 1 Bil in assets (gold, mining, oil etc.... I'm sure you get the picture). Is this GAAP or GAP, the latter implying a difference between carrying value and market value? Yikes, what a deal! Your right, I don't think you need to say more. I hope you got out while the gettin was good, assuming your a unrelated investor in this company Best Regards, Mad2