Polaris International Holdings (PIHN)

[honestabe113]

Received reply from Maxwell to my ongoing email conversation:

"Apparently you have more current information than I do. Since the company has not, to my knowledge, released any information, regarding stock issuance, beyond the quarterly reports, I would suggest you question the veracity of your source. As you know, Mr Misawa is engaged in trying to get this acquisition closed and is doing his best, at the same time, to not only meet his disclosure objectives but keep the shareholders informed beyond his obligation to do so. Personally, I don't think that his responsibility, either morally or legally, extends to issuing updates between quarterly reports with details of every share that is issued, as they are issued unless it exceeds certain regulatory control thresholds.

I should also remind you that issuing shares, in and of itself, is not necessarily dilutive and that adding an additional 7% to the number of outstanding shares is not necessarily excessive. Issuing shares can also be accretive, as in the case of a well executed acquisition or the sale of shares at a price in excess of a stock's net book value. Regardless, I would like to suggest that Mr. Misawa's time will be better spent focusing on getting this acquisition closed successfully than producing interim updates beyond his current pace. Frankly, I am impressed at the frequency with which he puts out his regular updates to shareholders and am somewhat surprised that, while most shareholders indicate they are pleased with the improvement, there are still some that are not satisfied and expect more.

I will, however, forward this email on to Mr. Misawa and appreciate your continued interest in Polaris International Holdings.

Sincerely
Maxwell Media Marketing"