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CSykes

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CSykes

Re: EricVan post# 874

Thursday, 06/07/2007 9:21:55 AM

Thursday, June 07, 2007 9:21:55 AM

Post# of 10499
UWRL, T/A ungagged, aprrox 8M shares a month being sold into float and 2.5M shares being converted a week into restricted common as per Sutoic buyout agreement. O/S 271M, float 100M. Company imploded in mid 2006 due to aggressive growth and inability to combine all newly acquired companies effeicently. Sutoic ( Ielement) bought out UWRL in late 2006. Since then they have canceled $4M in debt and cut $500,000 in overhead. Company does approx $3.5M in annual revenues, has $13M in assets, $7M in liabilities and $5M in equity. Book value is about .018 per share. Restructuring of debt was done at .055 a share with the addition of 66,101,429 shares. Company is completing it's last 3 quaters and 10KSB and will file shortly to re-list on the OTCBB. More DD is avalible at the UWRL Ihub board. Disclosure, I own 6.2% of the float... it's my little undiscovered gem ;)
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