FINANCING (February 05, 1990)

Covenant Res. — min 500,000 offered @ 45 cents per sh.

Auriga Res. — 700,000 offered @ 35 cents per sh.

Adonos Res. — 550,000 offered @ 50 cents per sh.

Nortran Res. — gross proceeds rec $282,000.

Springer Res. — opt exerc on 100,000 @ 60 cents per sh.


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