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Gold/Mining/Energy : Eco Logic Company ( ELI ECO ) Update -- Ignore unavailable to you. Want to Upgrade?

To: J. Kerr who wrote (266)	5/27/1999 8:15:00 PM
From: Ichy Smith	Read Replies (1) \| Respond to of 340

I don't know how many of you got the "Notice of Annual and Special meeting, but they tell us on page 10 that there are 18,859,758 shares in the company and they want to revise the value of the company from $60,304,212. to $10,333,633. This makes the company worth about $.55 a share. So it suddenly seems that the machine used in St Catharines, which was supposed to be so great, is worthless, and the company has been priced by the market at exactly it's current value. Immediately after that, is the request to increase the number of shares eligible for the stock option program, so that the company can continue to give bonuses for the valuable work that is being done. since the present management has taken the company from $7.00 a share to $.50 a share in the last couple of years, why are we giving them bonuses? By the way last year we gave the directors a total of 245,000 stock options in the year ended December 31, 1998. Is there any way to make a motion that no director or employee of the Company be given a bonus or stock option if there is not a profit in that year? The Board of Directors should be apologizing profusely for their abysmal performance not asking for more stock options. This is of course my opinion, and I certainly don't understand what they are doing, of course if I don't make a profit I DON'T EAT!!!!!! Regards Peter