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

To: Daniel Chisholm who wrote (1521)	5/26/1999 9:40:00 PM
From: Janice Shell	Respond to of 7056

Oh, this is TOO funny. I've really gotta go to sleep now, but tomorrow.... Love the stamp collection thingy, lolol!

To: Daniel Chisholm who wrote (1521)	5/26/1999 10:22:00 PM
From: Daniel Chisholm	Read Replies (2) \| Respond to of 7056

I wrote: By my reading, the company (HITT) received an IOU, due in 12 months, for $10 million. In exchange, they issued 2 million shares. As a good faith deposit, a postage stamp collection was placed under the care of a third party. No claim was made that the postage stamp collection was worth $10 million. It looks like I typed too soon. Nearly at the bottom of the 10-K I found this: <PAGE> 82 Letter of Intent The Life Foundation Trust April 15, 1999 Page 2. The total of $20 million, consisting of the subscription and acquisition price of $10 million, and the $10 million for the purchase of Local City Editions to be acquired and booked over the next 12 months, will be unconditionally and irrevocably paid in full within one (1) year, the payment of which is secured by LFT granting a security interest and lien in LFT's undivided interest in the collection of Aden stamps presently held in safekeeping with Day & Meyer, Murray & Young Corp., 1166 Second Avenue at 61st Street, New York, NY 10021, (the "Asset"). The Asset is insured as to all risks of physical loss and/or damage for $20 million through Lambert Fenchurch Specialties Group Limited, London, with a certain underwriter at Lloyd's, London, UK, per Contract No: NA0100098, Certificate No: NA0112598. The premium for the 12 months ending December 3, 1999 of $70,000 has been paid in full. The Asset has been appraised for $50 million (catalog value). - Daniel