Equities Magazine 45th Spring Corporate Conference

Note : Don`t trust any numbers . I`m really not a very good typist & just find taking notes , dispite all my limitations , a better use of my time at an event , that not taking notes . Get a CoSy to take your own notes .
I always use true proportions rather than percents , and in ASCII , the APL uses the percent symbol '%' for division . My later editorial comments are in brakets ' [ ] ' .

 Saw :
Xentel Interactive ( Alberta Stock Exchange : XII ) CD & Web marketing
agency
 Redesigned Netscape`s GeneralStore .
AdvancedFinancial ( AMEX: AVF ) Retail R.E. Morgage lender .
Inflazyme Pharmiceuticals Ltd ( VSE: IZP.V ) Cortesone w/o side effects .
  LUNCH :    DanLufkin    of DonaldsonLufkinJeanrette
    The Just-There-for-the-Lunch crowd filled the too-small lounge the hotel
    supplied on the first floor and many of us who stuck with our last
    morning meeting a little long were relegated to a screen image in a
    second floor meeting room . Lufkin is clearly an interesting guy . I`m
    sorry I did`t get to see him in person .
    Had well-done game hens .

|14:21| Pacific International ( NASDAQ BB : PACF ) Computerized R.E. loan
 origination with talking head loan officers available 12 hours a day , 7
 days a week at your participating R.E. broker`s .
|15:48| Natnl Health & Safety Corp ( OTC BB: NHLT ) Like discount Dining
Card
 for medical services .
The Comparison between  AVF and PACF  is the sort of thing these conferences
 are unmatched at hosting .
   ===========================: MON.MAY,960513 :============================
|8:33| -4| Equities960513 45Aniv Spring conf . InterContinental Hotel
  12 Cos presenting .
KushnerLocke ( NASDQ: KLOC )in preliminary schedule not here ! Had said at
 Equities951211 that Big  Pinocchio movie to be thru post production in Apr .
Xentel Interactive ( Alberta Stock Exchange : XII ) |9:0|
 NewMedia marketing .                           www.Magellan.com
 LenWolstenholme        Competition :
 cataloger can get I-cat catalog software , but Xentel does whole integration
 Speigel on shared CD disk . bugs on in house effort | testing : 3 guys from
 U. of Calgary . problems w Micron mother board .008 of population .
|9:6| restart : AA tiket auctions . thru Firewall ? .
 Sony Music J.CPenny . Cable co wants content & transaction control
  blouse color change buton  Where`s the remove button
 Quark is underlying authoring language . Swiss Tourism supplyed existing
 media | Fee & transaction revinue source ( many step Win95
 e.com - Xentel telephony , Magellan ( Calgary ) design consulting 120$ % hr
 US consulting fee | .05 on sales .
 JC Peney did website on spec . caused politicl storm , got contract
 replacing 8 internals . 900 web pages of content | CD Direce
 Firewall Studios  Web survesy , contests , promo - keep ownership of data
 60 B $us catalog sales
 2 - 10 , 4.8 B $ online by `98  ( forrester res )
 do have some proprietary software - functionality added to Quark .
 multiple simultanious access to files . Been doing for 2.5 yrs .
 Canada cheaper in Calgary - but feel can triple creative staff before run
 into recruiting problems . .7 People are willing to do online .
 feel can`t sell just few items on web . need broad catalog .
 Fast delivery . feedback    EDI  or electronic fax .
 have to pik order berore accept credit card . , need to mirror invntory
 control system . Take merchandisers approach to content development .
 Focus style to match audience | SalesTax ? US domestic fulfillement
 where Xactn happened : wher credit card is authorizd - at merchadiser eg LL
 Bean in MA | doing alliances w existing major catalogers , advertisers .
 Redesigned Netscape`s GeneralStore . QuickPurcase pages - w b finished
  GeoffPockering Chmn & CEO  / LenWolstenholme COO
  ScotDow , DaveRosenval l Magellan
  LarryDow Independ  in
  Gordon Haight - pres IMI Publishing .
  29 39.8 US Cd $ mkt cap .
  1.1 2.7 6.3  revs  | -.6 -2.3  -.3 loss , `97 expect profitable ...
  all acqs haves been stock .
   40.896 outstanding , 47.2 full  dilut  | 1 - .58 |>| 0.42 | float .
 .25 - .84 , current .80 cndn . | av wk vol - 1 - 2 mil shares .
 .5 turnover in last few wks . .4 bodie crea .15 proc . 15 admn ,
 75 , 20 , 6 vg | modular | contract hosting to UUNet until transaction
  which handle directly .
 New Aliances ?  biggest name in computers internationally . pilot proj .
 Japan & Euro Licensing of business model & tek infra strucuers .
|10:4|
AdvancedFinancial ( AMEX: AVF )
|10:10| BillMoffet Pres sr mngr 12 yrs BradMorris : Mortgage Banking
 different way : need to be WalMart of Mort | vs Norwest , country wide ;
 dont want middle man , not just buyg loans | Joined 6 wks ago
 Plaza , 1B$ %  mo , merged w Fle | Chmn NormPeterson MissionViaho , Shawnee
 KS ; Gi svcing 500M$ loans | 35 loan officers sitting in RealEstate offices
 . Lots of RE offices closed shops . in lot of ReMax , some Century21 , 2
 telemarketers to RE offices . Sign up RE agency , the recruit loan officer .
 just need to generate 500k$ % mo . Orange Cnty CA .
 Game is : Capture the Consumer . Wholesale loans just commodity mkt .
Brad : started `90 w RTC & S&L , bought mort svcing rights  @ discount .
 til 92 , acqs $700M rights . then low rate origination mkt . Were in
 Wholesale game . So move into retail originations - | Want to grow desktop
 RE sites to 100 in nxt 1.5 yrs to reach $50M % mo origination . compare w
 grow thru acqs which cost . sites low cost | want to also have 20 net
 branch retail originators | create MoneyStore like consumer direct division
 . 2nd Trust deeds mkt ( lump sum ) vs home equiti .
 Want own originations >= 100M$  %  mo | get net worth up to $5M |
 evenutally ipo reit - non regulate bank - non conforming credit loans .
 Run REIT w existing people . like Saxon , Imperial reits . really want to be
 genreal finance co | Have advantage of already being public . No one else
 has blueprint for desktop branch . can easily 2x Origination . sucessful in
 90 days . project profitable this mo . have invested for last cpl yrs .
 Tek acceleration : big loan files - artificiall intelegence judging credit
 history , FredyMac credit DB score . looking to get to be down to 30 min
 like car loan , now 1 wk best time . AI sys expensive . PMI 800-# for loan
 reps . | expect 1st profitable Q in 2 yrs |
 | 3.8 of 4.2 M shares ful dilute  out | 5 or 6 loans % officer per mo .
 300 buy site xactns - capture ~ .25 w good loans
 Started - need experienced Loan officer , confounds RE persons role
 CLO in RE loan , RE person more replacable by Web . .80 of financings come
 from RE sugestion | have more products than Banks etc | do ChaseManh .
 sell to all sorts of people | don`t want to be @ wim of interest rates .
 Purchase Money business . dont want to be in busn of guessing rates .
 Just go in & pay $500 - $1000 % mo , rent | no kick bak ( respa violation )
|11:8| Inflazyme Pharmiceuticals Ltd ( VSE: IZP.V ) |11:25| HassanSalari Prov
 U. Brit Columbia .     www.stockprofiles.com/izp.v
`92 product candidates for asthma , started w Family money ,
 Went pub Vancouver .    16.5M shares  | 16  x  .2 2.04 , 2 |>| 3.2 32.64 32
  lo hi now mkt cap M$ Cd | r  x  .73 |>| 2.34 23.83 23.36  | US M$
  15 empoyees + 15 associates around world | Dirs : Harvey Kellman Exc Dir
  Cipa Geigy ( looks good )
 Tek : non-core busn for cash : TB-diagnostic test kit licensed to Abbott ,
 5 min test , cheap , reliable on 1 drop of blood in 5 yrs . for screening
 purposes . Same antigen good for vaccine - w b licensed out to compete w BCG
 . expect theirs to be good for 10-15 yrs between boost .
 AntiCancer drug - slows fast activity cells - for colorectal , lung &
  melanoma , works on human cancer grown in animals .
  to replace 5-FluroUricel(?) ( 5FU ) | Canada uses FDA approval .
 Core - Busn :   Looking to do anti-inflam drugs in UK .
  new clas of drugs in adition to  Steroids ( 1939 )
  problems - lower cortisol blood presure reguator & growth facilitator
  bone resorption , immunosupressive , moon-face , cataracts , muscle wasting
 Non-St ( NSAIDs ) aspirin ibuprofin   , ~
 IZP-94005  non - gluco-corticoid binding .  | Apanol
  Focusd on dicovery of inhibitors of transcrioption factosr NF=kB & AP=1
   using small orally active molecules . bloking inflamation at gene
   activator sites |
 Patent : composition of matter & use in US , file in RoW .
    50 mcrogram  %  Kg dose |  vs Nedodromil | @ 200 micro vs 2milGram
    400uG  %  Kg inhalation  in sheep . reduce bronchial hyper sensitivity .
   Scripp Rpt on Asthma `93 : wand oral  broad spectrum w/o side effects .
   vs  3H desamethasone |  Peroxidase reducers | leaves corticosterone alone
  Vs Budesonnide 1.2B$ % yr  , CyclosporinA 2B$%yr |
  not interact w key cell proteins | aim @ JV w big co to take to mkt .
 Iflamitiorys : Non-steroids .5 of mkt Prostaglandi inhibitors .
 Asmthma Alergy Arthritus  6 5 6 B$  %  yr | expect Apenol > 1B$ |
  Tiesole :  anti altregy  / Bispan Anti artritis  ,
 CashFow : - receiving up fron  fees  . get lots of Cnd gov $
  burn rate 40k  %   mo | have rights   6 share get right for 1 share @ 1.2$
  +  % 2 warrent for 1.4 for 2 yrs . to raise  3M $
  ThomsonKeenon for 4.2 M $ matched by Govt + res tax credit  now $400K .
|12:14|  Abbott paying ? good money  |   rev ~ 2M  %  yr |


LUNCH : |12:21| Bob 450 to 550 x gains on top stocks over 45 yrs , he Editor
 last 15 yrs . 2 have tripled frm last mining day @ Plaza | 100k goto 70M
 asset fund tmro BF SpecialSituation on Jordan Amer gain 1.0 | MaxBowser 5 on
 Hulbert list w just stocks < 3$ [ nice chat w Max @ evening reception . Gave
 him BobLbl w web addr ] | DanLufkin : picked by WSJ as one of 20 most
 influential man of century . Lufkin & LouisMarks , DLJ 1st to go public |
 Integretiy & sense of environment unique | funded 1s Black ownd Brokerage |
 Opporutunity is where you find it ; Watson , you see bt dont observe .
 |13:14| Dan : Barrons Widows contest : `59 formed DLJ @ 51 Broad | rules
  which must never be followed | Common Stocks with Common Sense : Fortune
  futer 50 | Look @ OTC wher few are looking | not profitable for big Brokers
  to push . written in 59 | Looking @ RoI all sorts of ways - Return on Life
  , 4 rulses Listen to experts , never right time , ignore people just look @
  #s , work hard financed w 300k , 200k stock | Mr Mulkay Pres of NYSE 135
  185 , thurs , c< Tue , bid accepted | close in Fri - not usable as
  colateral - cashiers chk Sidney Coe @ Irving Trust had done 2nd hand car
  loan | did loan 75k on own signature - Everyone w tell you why things wont
  work , or someone else shud do | Wife JaneDavidson`s investment club :
  Thiokol - hi tek vs what you like @ drug store . bought BristolMyers -
  makes buffrin | filed 800k shares @ 15$% in `69 | was governer of NYSE |
  lak of cap w/i WallSt community - lots of non-publics have folded | Stood
  by self @ Gov din til Gus Levy then running GoldmnSachs came over | Questar
  | 4 - 14 over 10 yrs , ex AP auto parts , | evenflow , Spaulding | bought
  for 14.25 in `80s | several yr later cash flowing 40M$ , sold for 20x
  purchase - un noticed jewels | was Cutting Horse Champion | DQ Blizzard
  2.85$ in `80s - Intnl DQ - bought few thousd shares - split 5 % 1 in 5 yrs
  . About Bob F : `63 : 7th Corp Objective : have fun . RoL |
|13:42| Company ThumbNails :
FrankHolmes United Services advisors  Moore` Law : MIP $20 .
 Countries dropping bariers to capital inflow - been to 40 countrys in 15 mo
 - Country Gold funds .  Diamond fields , Briax Indonesia , very hi risk
 .01 > 1B$ , .02 > 1M | 1800-US-FUNDS , corp checking acnts | Funds
 10000 calls % day , 9 by machine | changing name to US global investment
 ArtBonnel - fund mgr speaking tmro mng 150M assets |
WillimaMoffet Advanced Financal | see above |
WilliamVasal ; Command Securitity : personell for eg  JFK | started co @ 21
 took pub wi StewarJames in `90 | `93 bought  old Kinney security busn |
 biggest competitor went bankrupt | got money from Sands bros to buy co .
 Doing 50M in sales :
HollywoodTrenz
DrHolanSolari ; Inflazyme | see above | plan to move to Toronto exchange
Jordan American ( NASDAQ: JAHI JAHIW ) Rick Whittlstein : investment mngt co
 ` 94 lost 4 , `95 .05 , 96 heading to .11 | WillRogers : dont gamble : take
 all you money & put in 1 stock -- which goes up . If it dont go up , dont
 buy it .
MeisenheimerCapital : DanMargulies w Chamn | US Basketball : sinc ,85 minor
 league , .25M for franchise - placed 100 players in NBA in last decade |
 been doing 11 yrs | players make $300 % wk | Anthoney Mason goto M % yr
Natnl Health & Safety Corp | DennisBouers - 8yr old | Med Benefit network
 .5 hospitals , .95 phars , 220k MDs , providers on non-ins | 250 $ % Family
 POWERx | .35 to .5 discount on fees | 1T$ % yr mkt | $260B mkt they attaking
 Free membership for listneing to .
Nightwing Entertaiment : Phil ?  20 yr old Nightclub design til last wk .
 last 13mo working toward Animal protection videos QVC 52.5 min show
 Acq last thu , vids to vets .
Pacific Intnl : JimShipley : R.E. brokerage - ISDN line into Library on fl 2
 take to secondary mkt | subsidiary ElectroncMortgageBank reselling Intel
 product .
Universal Turf : PatMcClaren  ( na )
Xentel Interactive : Len : got more snow than NY - configures content for
 electronic shopping | stock 4x since BoY | all employees | w move to US this
 fall .
|14:21| Pacific International ( NASDAQ BB : PACF ) RoryHughes developer in
 CostaMesa CA , changing name to EMB Inc | Proshare 200 VB vid conf software
 w mortgage ISDN RE loan Transactions - 12  x  7 availablitiy . W borrower .
 306K on | 7500  x  12 |>| 90000 | w | 450  x  12 |>| 5400  | monthly debt
 Mortgage Ins - can go to .97 of tot | fixed , adj , 5 - 7 yr Balloons |
 Both do vid , voice & data on ISDN  w people in bull pen .
 Loan Balance - interest - principal payoff graphs . now connected into
 automated underwriting neural nets . .3 to .5 loans now being judged by
 computer . streamlined |
 Internet ? download Loan expert - or thru RE offices . then upload info
 bolus . 20 offices in So CA . OrngeCty Cred Union . | become assoc of EMB
 developing .3 to .5 of origination fee | 7k$ cost | 250 $  %  mo lease | 1
 loan  %  month makes money for RealEstate Office | tot 25 terminals in place
 afiliated w REIT , can take loans to varsious , have some of best pricing |
 Found too many problems w foreign hardware | Touch Screen | licensed in 50 ?
 can do loans , RE laws differ | NY requires bond |
   Share | 16.6  3.7 float | .25 6 , now 3 | price filing w
  working in bk of 5ksqft RE office | employee relocation in Intel
 Competition : Linden Software w ProShare - fails | 4M$ assets . owe .5
 ~200k in bank | .8 ISDN coverage over US ( ~ Oklahoma City ) | ProShare
 Primer - voice only over POTs | plan 500 units thru EoY | Lease
 1.5 pts on 100k loan | Costs 3 pts just to have CountryWide come into office
 2000 net off of 100k loan | Filing SB10 this month . should be straight
 forward | been trading rather hevily , 16k shares sofar today |
 Year lead in tek - | ICI warehouse funds in all 50 states | WalMart of induw
 HFS -  ERA | underwriters salaried , plan local offices w local expertise
 share bolus w FanniMay etc . 3 min w FreddyMac | Shipley in RE most of life
 RoryHughs Mortgage banker | x-Security Pacific Realty World | looking for
 mortgage software on Laptop . 6'7" | been looking for Rory for 9 mo | Chase
 , etc | .17 of pop qualifies for 'A' loans | next add signature pad .
 have moved from 30 days to 10 for verification & closing | does count as
 face to face inteaction |15:45|
 Reaction from old style competitors ? sure | goal to put software in EAB ,
| FrankTuttle Mortgage Banker & programmer - deal changes by HUD , Respa ,
 etc .
|15:48| Natnl Health & Safety Corp : OTC BB: NHLT has Indemnity plan -
 David Vaughn Acting Chmn | DennisBauer ( ex IMS America ) Founder , CEO &
 Janitor : 9 yrs - all in Med busn for 30 yrs | huge profit taking by
 middlemen in Ins etc | 5 levels of profit takeing | Direct network provider
 , 4th largest | .95 of Farmacies | .5 Hospitals | .34 of surgeons etc | Dont
 take risk , just vol discount | how know discount real ? Have negotiated
 fixed fee - call up | 500k providers in DB | Foundd `89 , Div Horizon Devel
 Grp - privider of med equip & suplys | call 800 # for providers in area |
 can charge <= 5K$ on card |
 covers houshold | pharmacy sys DEA requires SS # | looking @ health care
 software co | health care is local phenomina | use 5 regional PPOs . ( home
 health care Medco / Merck | Working poor - hi risk , difficult to collect |
 80 M Amers can not a | 13 M uninsured | 10M females w Dependent children
  60M underinsured | Medicare Benes going down --> void |
 Professional Services Div .  .3 margins
  500k equip prods etc .
 Consumer Div ( POWERx ) 50k individuals on program now - most 5-10 people
 business . largest user BlueCross | Profit from Sale of Card $250
 Big mkt of Temp workers . .35 - .42 discounts on Hospitals , Psychyatrists
 .25 of 6k full svc Hospitals may not last decade .
 give up to .6 off | Ntnl low - cost alternative to ins | not regulated .
 Guarentee acceptance | 5000 $ like of cred for Med svcs @ .152 interest |
 Huge margins | repacager of PPOs that already exist - almost 0 invetory
 low overhead - Min staff reqs | have 280 natn contracts sold w total 10M
 custormers . Trucker discounts | do have catistrofic plan cover above 20k$
 .8 of med costs caused by .02 of occurances | Sponsor Organizations pushing
 cards | abt to sign agreement w 10M mem grp for joint mkting .
 9M shares , 2.5 float , mngt own .33 | stock 2- in .67 - 1.25
 LT Debt 1M |
 Need another M $ to go NASDAQ .          www.prnewswire.com/cmicnn

Jordan American ( NASDAQ: JAHI JAHIW ) Steamboat Springs CO . missed the cut .