IGAT - OTC:BB INTERNET GOLF ASSOCIATION INC Message Board

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Technology Stocks : IGAT - OTC:BB INTERNET GOLF ASSOCIATION INC

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To: john who wrote (55)	4/23/2001 1:33:44 PM
From: CIMA	of 67

DISSOLUTION OF THE CORPORATION The Company is out of money and cannot pay its bills. All fund raising activities have been futile. Jack Johnson of Zenith Petroleum, a major stockholder, has offered to clean up the Company' bills, settle the note payable with Triton, settle the other outstanding debts, as well as to get the 10-KSB filed and the next 10-QSB. All five founders of the Company will sign over all but 1,000,000 shares each of their stock to Zenith Petroleum, plus issue enough shares from unissued stock to give Zenith Petroleum a 51% interest in the Company. If the Company does not act immediately it will not be able to operate and file the 10-KSB or the upcoming 10-QSB. The Company counsel, Joseph Pittera agreed that this was the only way to salvage the Company and uphold the directors' fiduciary responsibility to all stockholders. It was agreed upon by the Board of Directors to accept Zenith's proposal and fulfill all the requirements as quickly as possible. The Company will rescind its merger with Champion and spin off the IGA assets, then sell the shell to a new merger candidate.

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