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Technology Stocks : Solucorp Industries (SLUP - OTCBB) -- Ignore unavailable to you. Want to Upgrade?

To: junglejims who wrote (2540)	5/26/1999 2:50:00 PM
From: hawkeye	Read Replies (1) \| Respond to of 3679

SEE: "Notes to Consolidated Financial Statement", note #8(e) ("Long-term Investments". "8. Long-term Investments December 31, 1998 December 31, 1997 (a) Shares of Earthworks Industries Inc. owned, (see note 11) $ - $ 87,289 (b) Shares of Earthworks Industries Inc. accrued (see note 18d) 46,598 11,998 (c) Convertible debenture from Travel Plaza Developments Inc. (Travel Plaza). The company elected on December 28, 1994 to convert the Cdn $50,000 debenture into 250,000 shares of Travel Plaza. Final regulatory approval for this conversion from the Alberta Stock Exchange is still pending subject to their acceptance of a financing arrangement and the approval of minority shareholders. On August 21, 1996, pending the finalization of the required financing to complete the project, construction has been temporarily suspended and the stock of Travel Plaza has been halted from trading. Due to these uncertainties, the Company has written this down to a nominal value. 1 1 (d) Convertible loan to Cortina Integrated Waste Management Inc., a subsidiary of Earthworks Industries Inc. (public company), due September 5, 2000 with interest at 15% per annum. The Company is entitled to convert all or a portion of the loan into shares of Earthworks Industries Inc. at any time. During the term of this loan, the Company has the right to offset royalty payments due to Earthworks Industries Inc. against the loan balance. 218,821 208,821 (e) A 25% interest in John Beech Remediation Limited (no market value). 1 1 (f) 70,000 shares of Global Technologies Inc. (note 11). - 60,734 $ 265,421 $ 368,844 "