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Re: None

Monday, 05/03/2004 11:33:09 PM

Monday, May 03, 2004 11:33:09 PM

Post# of 53671
Re: the Bremen exchange, I got a follow up letter from Kelly today.

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We are not through with our investigation of the claims of shorting on the Berlin Stock Exchange, but we see nothing from our cursory review to give us cause for alarm.

Some of this information has already been posted on our and other boards, but in our investigation we spoke not only with the brokerage firm who caused our listing, but with its counsel as well. Further, we spoke with our advisors at Dutchess, all of whom have caused us, at this time, to believe that there is no concern over the German listing.

You may recall a few years ago when many OCTBB companies were being urged, at great expense, to file for listings on the Frankfurt Exchange, under the idea that the Europeans tend to be longer-term investors and took delivery of their certificates, thus helping "protect" the company from U.S.
shorters. My understanding is that this German brokerage firm has listed several more active American companies on a limited basis, hoping to create a Frankfurt-style exchange in Berlin, and that these companies will move forward with a larger listing.

Although we at this time see no harm to the Berlin listing, we similarly have no interest at this time in a larger listing.

We'll keep our eyes and ears open, but at this time we see nothing to be alarmed about.

We appreciate your concerns and interest in our company.



--Kelly Jones

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