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Microcap & Penny Stocks : HGRM--Any Followers? -- Ignore unavailable to you. Want to Upgrade?

To: caly who wrote (2566)	5/11/1999 3:06:00 PM
From: Claudia Benson	Read Replies (1) \| Respond to of 3576

You have room for more excitement? I'm so twitterpated over AHS, that I can't think of another stock. ggg Claudia

To: caly who wrote (2566)	5/11/1999 3:18:00 PM
From: Jim Burnham	Read Replies (4) \| Respond to of 3576

Okay, I talked to Kevin. He was at home sick, but took the time to call so that I could pass the information on to the rest of the SI group. I asked about the audit and the history of the audit. First, they have everything done except for the employee stock plan. He said that the stock plan is only a 20 page document, so the number will be out soon. He hesitated to say any day, due to the past problems we have had with that statement. The time frame of the audit is 1/1/97 to 12/31/98. They will be jumping into Q1 audit shortly after finishing. The numbers haven't been released in pieces because it is more expensive that way. The firm doing the audit is Raklen & Cohen (sp??). Kevin is quite pleased with the R&C. Grant Thorton wasn't used due to a conflict of time frames. Kevin warned that the numbers on the audit weren't going to be great. 1999 is HGRM's year of growth. On the Russian Contract. Seems Kevin and HGRM are meeting with all of the big wigs on this one. He mentioned that he has made a few trips to DC to meet Senators, the IMF, OPIC. In Russia he has met with the same level of people including the chairman of the Russian Bank guaranteeing the contract. He is expecting the first payment within the next 6 weeks. If not from Russia then from the Russian bank within 5 days. HGRM is working with OPIC in order to back the Russian Bank Guarantee and for financing the Spetsznak facility. The Spetsznak facility will be built in stages. First stage will be to provide the equipment to cut the large rolls of holograms down to smaller rolls (the bottleneck). The next step is to provide equipment to make the holograms and the last step is the lab to master their own holograms. The first stage should happen in 3 to 4 months. I asked Kevin about his confidence in the Russian Contract. He said that he is VERY confident in it. He felt that the contract would continue even if their was a change in the form of the Russian Government. Back when Primakov started taking over, the project was put on hold and continued after Primakov reviewed at it. The US Government also is very supportive of the contract. Production is up to 8 million holograms per day. The contract is in stages. First 300 million holograms, then 700 million holograms, then a billion every few months. The tax stamps are to be released to 20 states first, out of 80 something total states. I also asked about the sales force. Off the top of his head he thought there were more than 20 salespeople. 15 of them are active. He specifically mentioned Jacque Phillips, an experienced hologram salesman, who Kevin said is working out quite well. An inactive salesperson is someone who worked on a project that might currently be on hold or has been cancelled. Jim