NNRF Inc (NNRI)

[stocktiger]

Payments from ATOLL to NNRF will show in the next quarter filing

NNRF filed its FORM 10-SB (Amendment No. 2) and included a statement about earnings ending March 31,2007 but ATOLL did not report earnings until June 4th.

http://biz.yahoo.com/pz/070604/120748.html

ATOLL pays NNRF a month after ATOLL's quarter ends

ATOLL first paid NNRF a minor amount of about $247,000 in this past quarter as during that quarter NNRF only owned 13.25% of ATOLL. That payment was likely received in April per agreement so will show up in the next filing for the period ending June 30.

The larger $2.5 million payment will be due in July so will be in the NNRF filing for the quarter ending September 30 and so on.

Here is the PR that explains that:

http://biz.yahoo.com/pz/070313/115397.html

And an excerpt from that:

Under Russian corporate law, NUCON's participation in ATOLL's profits will be received in the form of quarterly cash dividends from ATOLL's operations. In April 2007, NUCON intends to receive its first dividend of $247,000 from the 13.25% of ATOLL it owned of record as of the end of the fourth quarter 2006.

Quarterly cash dividends for 2007 on wards will reflect NUCON's 50% ownership in ATOLL.

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BTW someone asked about 144 Filing and sales. Once the restricted period of 144 stock is over the holder can have it registered. This does not mean that they intend to sell it but that they are allowed to by law. I guess any of us if we had a choice would rather hold stock that we could trade vs stock we could not trade. In so far as stock held by Barry Davis I understand that he has sold no stock of NNRF at all and has no intention of doing so.