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Previous: COMBINED PENNY STOCK FUND INC, NSAR-B, EX-99.C1, 2000-11-30 |
Next: COMBINED PENNY STOCK FUND INC, POS AMI, N-2/A, 2000-11-30 |
lEGAL PROCEEDINGS EX-99
Pursuant to an examination of the Fund by the Securities and Exchange Commission
("SEC"), the SEC has issued a letter to the Fund identifying various asserted
deficiencies and violations of rules and regulations. The Fund has responded to
the SEC and does not believe that the outcome of these matters will have a
material impact on the Fund's financial condition or operations. However, the
ultimate outcome of these matters is not determinable at this time.
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