Second Wave Petroleum Inc SCSZF

RE: AGM NEWS

[vandenp]

I had inboxed these questions to a number of different posters that I believe were going to the AGM. Were there any answers (directly or indirectly) to these questions? On January 04, 2001 a senior SCS employee was asked the question "Does SCS expect to require additional financing this year (2001)?" The reply was "We have built in financing with warrants and are not considering any other source." How is it that a short few months later there is another announcement of more dilution of stock? How much more dilution can we expect? SCS management stated in a Feb 2000 news release that "CIMEX will roll out the TourTek inventory management and reservation system for nine of its 54 tour operators". Why did SCS not also state in the news release that it could take well over a year to set up just two of the 9 tour operators, and even longer for the remaining 7? Why does SCS management announce partnerships with Hitchhiker, Concorde, Patheo, etc. Is this to make investors believe there will be substantial near term revenue generated from these partnerships? If so, where is this revenue? If not, why make the announcement? Frank told many investors months after the GATT lawsuit, that he was very comfortable with SCS meeting the $9 million to $13 million dollar revenue target by year end 2000. How is it possible that someone in senior management could be wrong by more than 600%? (he better not say he didn’t make these statements) vandenp