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Microcap & Penny Stocks : HITSGALORE.COM (HITT) -- Ignore unavailable to you. Want to Upgrade?

To: Dako who wrote (1055)	5/13/1999 3:46:00 PM
From: Pluvia	Read Replies (7) \| Respond to of 7056

Biz WIRE LIFE Foundation Trust News.... Business Wire LIFE FOUNDATION TRUST COMMITS TO CLOSE HITSGALORE.COM INC. BUSINESS EDITORS SCOTTSDALE, Ariz.--(BUSINESS WIRE)--May 13, 1999--The Life Foundation Trust Thursday announced it is fulfilling its $100 million commitment to hitsgalore.com inc. (OTC BB: HITT.O) pending on the Shareholders approval of the issuance of the additional shares. Life Foundation Trust owns the Production Rights to several producing oil and gas leases in Central Texas. With the recent increase in the price of oil and gas, the production on these leases created a cash flow of over $1.5 million this past month. These prime oil and gas fields in Central Texas have proven reserves as shown in several Geological Reports and Reserve Analysis, giving a complete Geological Engineering Report. All Reserve calculations are based on proved reserves available, using the standard definition of proved reserves as defined by the Society of Petroleum Engineers (SPE INC.). Jeanette Wilcher, Trustee stated, "In light of the recent drop in the market value of the stock we are renegotiating for a more favorable price to the Trust of $20.00 per share; the hitsgalore.com inc. stock will be acquired in exchange for a joint venture with Life Foundation Trust for the Production Rights of said Leases." Wilcher continued, "I think it is admirable that Mr. Reed has resigned his position as Director of the company. It shows he cares a great deal about the website at hitsgalore.com inc. the Company and the Shareholders. In any event, we think that the hitsgalore.com inc Business Model works! And that hitsgalore.com inc. will be a profitable Inter Net Company, especially as it brings out new developments and continues to refine its business plan." Life Foundation Trust is an International based Trust with several offices throughout the United States and additional offices in Asia. The fundamental purpose of the Trust is to generate funds with which to meet various charitable objectives; including the provision of food to the hungry, clothes and shelter to the needy, education to the unlearned and to minister to the spiritual needs of all people. In addition, to provide financial support for the local, national and international ministries which are based on the principles of the Bible.