SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
May 12, 2000
(Date of Report)
Forestry International, Inc.
(Exact name of registrant as specified in its charter)
Colorado
(State or other jurisdiction of incorporation)
0-023310 84-1116284
(Commission File Number) (IRS Employer Identification Number)
1205 Ampere, Street, Suite 206, Boucherville, Quebec Canada J4B 7M6
(Address of principal executive offices including zip code)
(514) 495.7747
(Registrant's telephone number including area code)
Not Applicable
(Former name or former address, if changed since last report)
Item 1. Change in Control of Registrant.
Acquisition of 2524-7883 Quebec, Inc. as a Wholly Owned Subsidiary of
Registrant:
On May 2, 2000, Forestry International, Inc., a Colorado corporation, doing
business as Infynia.com, Inc. (the ?Company) entered into a Purchase and Sale
Agreement to acquire all of the outstanding stock of 2524-7883 Quebec, Inc.,
a corporation incorporated under the laws of the Province of Quebec, Canada,
that is a holding company of the ownership interests that have operated as
Reid, Marcotte, Michielli & Associates (RMM & Associates). The Sellers of
the stock of 2524-7883 Quebec, Inc. were Marc Michielli and Jean-Pierre Reid.
(the Sellers). Pursuant to the Purchase and Sale Agreement, the Company
agreed to acquire all of the outstanding capital stock of 2524-7883 Quebec,
Inc. in exchange for Twenty Million Four Hundred Thousand (20,400,000) shares
of the Company's Common Stock. The shares issued by the Company for the
purchase price will represent approximately 49.95% of the Company's then
issued and outstanding shares. The shares of the Company's common stock are
to be issued into a Custodial Arrangement with Rocheleau Labranche &
Associates, pending satisfaction of certain conditions under the Purchase and
Sale Agreement, specifically including, but not limited to, receipt of the
required financial statements and conformance of those financial statements
to representations and warranties made by the Sellers and deliver of
Subscription Agreements confirming the status of the shares as Restricted
Securities to be held for investment purposes by the Sellers. The Purchase
and Sale Agreement provides for adjustment of the purchase price in the event
the shareholders' equity of 2524-7883 Quebec, Inc. is greater or less that
Four Hundred Fifty Thousand Dollars, ($450,000), Canadian. The Purchase and
Sale Agreement also provides for the reimbursement of the Company for Net
Uncollected Receivables by the Sellers.
Consistent with the terms and conditions of the Purchase and Sale Agreement,
RMM & Associates and the business and assets held by 2524-7883 Quebec, Inc.
will become a wholly owned Canadian subsidiary of the Company and will
operate under the name Infynia.com Incorporated.
RMM & Associates is engaged in the business of providing business to business
solutions and services for electronics commerce, specifically in the
installation, configuration and maintenance of internal network and internet
based network systems for commercial use. RMM & Associates has operated in
this market for seventeen (17) years, primarily in the Quebec and Canadian
national market. In addition to the operating assets of RMM & Associates,
the Company's subsidiary will also own the building were the principal
offices of RMM & Associates are located at 127 Cremazie Ouest, Montreal,
Quebec, Canada, H2N 1L5. In connection with the Purchase and Sale Agreement,
the subsidiary corporation will be named Infynia.com Incorporated to reflect
its market orientation to providing e-commerce network services. The Company
anticipates that the electronic commerce business operated through its
subsidiary will become the principal business of the Company.
The Board of Directors of Infynia.com Incorporated, will consist of Marc
Michielli, Jean-Pierre Reid and Louis R. Turp. Mr. Reid has been appointed
President and CEO of Infynia.com Incorporated and Mr. Michielli has been
appointed Chief Financial Officer and Louis R. Turp has been appointed as
vice-president of Corporate Finance, Mergers & Acquisitions. The Board of
Directors and officers of the parent Company has not changed and there is no
commitment at this time to change the Board of Directors or Officers of the
Company.
Item 2. Acquisition or Disposition of Assets: See Item 1, above.
Item 3. Bankruptcy or Receivership: Not Applicable.
Item 4. Changes in Registrant's Certifying Accountant: Not Applicable.
Item. 5. Other Events. The Company has filed a Certificate of Assumed or
Tradename with the Colorado Secretary of State to authorize its used of the
name Infynia.com, Inc. as a trade name.
Item 6. Resignation of Registrant's Directors: Not Applicable.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits:
Pursuant to the terms and conditions of the Purchase and Sale Agreement, the
financial statements hereby presented have been audited by Mr. Robert
Kliaman, C.P.A. as of May 01, 2000 and December 31, 1999.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
FORESTRY INTERNATIONAL, INC.
(Registrant)
By: /s/ Louis R. Turp
Louis R. Turp, Chief Executive Officer
Date: May 12, 2000
FORESTRY INTERNATIONAL, INC.
FINANCIAL STATEMENTS
MAY 01, 2000
FORESTRY INTERNATIONAL, INC.
May 01, 2000
CONTENTS
AUDITOR'S REPORT
FINANCIAL STATEMENTS
Balance Sheet
Statement of Shareholders' Equity (Deficit)
Statement of Operations
Statement of Cash Flows
Notes to Financial Statements
ROBERT KLIAMAN
Certified Public Accountant
AUDITOR'S REPORT
Stockholders and Board of Directors
Forestry International, Inc.
I have audited the accompanying balance sheet of Forestry International, Inc.
As of May 01, 2000 and December 31, 1999, and the statements of operations,
Stockholders' deficit and cash flows for the periods then ended. These
financial Statements are the responsibility of the company's management. My
responsibility Is to express an opinion on these financial statements based
on my audit.
I conducted my audit in accordance with United States generally accepted
auditing standards. Those standards require that I plan and perform an audit
to obtain reasonable assurance whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
Supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. I believe that my audit provides a reasonable basis
for my opinion.
In my opinion, these financial statements referred to above present fairly,
in all material respects, the financial position of Forestry International,
Inc. as of May 01, 2000 and December 31, 1999, and the results of its
operations and its cash flows for the periods then ended in conformity with
United States generally accepted accounting principles.
By: /s/Robert Kliaman
Robert Kliaman
Certified Public Accountant
September 19, 2000
Thornhill, Ontario
110 Alameda Circle Thornhill, Ontario Canada L4J 8A6
Tel: 905 707 6886 Fax: 905 707 6884 [email protected]
Forestry International, Inc.
Consolidated Balance Sheet
As at May 01, 2000
ASSETS
284: December 31
2000 1999
Current:
Cash and cash equivalents (Note 2) $ - $ 935
Accounts receivable 406,465 -
Inventory (Note 2) 119,388 -
Note receivable, non-interest
bearing from a company subject
to significant influence 27,241 -
Loan to shareholder, non-interest
Bearing 249,379 -
Prepaid Expenses and deposits 1,745 330
804,218 1,265
Long Term Investments(Note 2 and 4) 112,036 -
Fixed Assets (Note 2 and 5) 149,997 -
Goodwill (Note 2) 5,604 -
$ 1,071,855 $ 1,265
(See Accompanying Notes to Financial Statements)
Forestry International, Inc.
Consolidated Balance Sheet
As at May 01, 2000
LIABILITIES
2000 1999
Current:
Cash and cash equivalents (Note 2) 25,105 -
Bank loan (Note 6) 157,655 -
Accounts payable and accrued
liabilities (Note 7) 360,360 134,599
Purchase balance payable,
non-interest bearing 20,226 -
Due to director - 6,294
Income taxes payable (Note 11) 67,868 42,764
Current portion of long-term debt
Note 10) 218,572 196,190
849,786 379,847
Long Term Debt (Note 10) 96,077 -
Loan Payable, non-interest bearing 4,549 -
Future Income Taxes (Note 2) 3,887 -
STOCKHOLDER'S?EQUITY
Capital Stock (Note 8) 2,540 2,042
Capital in Excess of Par Value 8,082,889 7,422,620
Accumulated Deficit (7,967,873) (7,803,244)
117,556 (378,582)
1,071,855 1,265
(See Accompanying Notes to Financial Statements)
Forestry International, Inc.
Consolidated Statement of Shareholder's Equity (Deficit)
For the 121 days May 1, 2000
Common Stock Paid in Capital
_______________ In Excess of Net
Number of Par Par Common Stock Accumulated Stockholders
Shares Value Value Subscribed Deficit Equity
_________________________________________________________________________
Balance at
Dec. 31, 1998 17,377,833 1,738 7,078,223 18,275 (7,742,804)(644,568)
Subscription and
Issuance of
Common stock
for cash 2,356,303 173 199,477(18,275) - 181,375
Cancellation of
Common Stock - - - - - -
Issuance of
Common stock
for Services 687,500 131 144,920 - - 145,051
Net Income - - - - 60,440 (60,440)
Balance at
Dec. 31, 1999 20,421,636 2,042 7,422,620 - (7,803,244) (378,582)
Issuance of
Common Stock
for Cash 1,885,700 189 155,025 - - 155,214
Cancellation of
Common Stock - - - - - -
Issuance of
Common Stock
for Services 3,096,000 309 505,244 - - 505,553
Net Income - - - - (164,629) (164,629)
Balances at
May 1, 2000 25,403,336 2,540 8,082,889 - (7,967,873) 117,556
(See Accompanying Notes to Financial Statements)
Forestry International, Inc.
Consolidated Statement of Operations
For the 121 days ended May 01, 2000
12 months
ended December 31
2000 1999
Operating Expenses:
Administrative $ 164,629 $ 183,764
Depreciation - 1,600
Financial - 39,186
164,629 224,550
Net Loss before Extraordinary Item (164,629) (224,550)
Extraordinary Gain (Note 13) - 164,110
Net Loss $ (164,629) (60,440)
Earnings per Common Share:
Net loss before extraordinary item (0.01) $ (0.01)
Extraordinary gain - 0.01
Net Loss $ (0.01) $ -
Weighted Average Number
of Common Shares 18,154,999 18,130,231
(See Accompanying Notes to Financial Statements)
Forestry International, Inc.
Consolidated Statement of Cash Flows
For the 121 days ended May 01, 2000
12 months ended
December 31
2000 1999
Cash Flows from Operating Activities:
Net loss before extraordinary item $ (164,629)$ (224,550)
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation
1,600
(164,629) (222,950)
Change in assets and liabilities:
Decrease in accounts payable
and accrued liabilities (74,394) (148,990)
Increase in interest and
income taxes payable - 2,456
Total adjustmen (74,394) (146,534)
Net cash provided by operating activities (239,023) (369,484)
Cash Flows from Financing Activities:
Advance from directors 56,515 6,294
Capital Stock issuance 155,214 344,701
Increase in long-term debt - 36,732
Increase in bank ovedraft 51,464 -
Increase in bank loan 157,655 -
Subscription of common stock - (18,275)
Net cash provided by financing activities 420,848 369,452
Net increase (Decrease) in cash and
cash equivalents 181,825 (32)
Net Cash and Cash Equivalents,
beginning of year 935 967
Net Cash and Cash Equivalents,
end of year $ 182,760 935
(See Accompanying Notes to Financial Statements)
FORESTRY INTERNATIONAL, INC.
NOTES TO THE FINANCIAL STATEMENTS
MAY 01, 2000
1. Organization and Purposes
Plantation Capital corporation ("Plantation"), was incorporated in the State
of Colorado on August 9, 1988, for the primary purpose of seeking selected
mergers or acquisitions with a small number of business entities expected to
be private companies, partnerships or sole proprietorships. On August 10,
1990, Plantation acquired RehabNet, Inc. through an exchange of stock.
Subsequently, RehabNet, Inc. was merged into Plantation with a name change
to RehabNet, Inc.
On September 18, 1992, the stockholders of RehabNet, Inc. approved the
acquisition of all assets and the assumption of all liabilities of RehabNet,
Inc. by an unrelated public entity in a tax-free stock exchange.
On January 2, 1993, the stockholders approved a name change to Forestry
International, Inc. (The "Company").
On March 1, 1993, the Company acquired the exclusive right to the use of
clonal research and development pertaining to the paulownia tree, a hardwood
species developed by BioTech Plants Pty, Ltd. At that time the Company
planted, grew, developed and marketed this rapid growing hardwood tree on a
global basis.
The Company was in its development stage until December 16, 1996 when it
acquired Dixieland Forest Products, Inc ("DFP"), a Mississippi corporation.
DFP, a wholly owned subsidiary, supplied timber to pulp, paper, and lumber
mills and provided landowner assistance with replanting, thinning, and
timber transportation.
On November 12, 1997 the Company loss control of Dixieland Forest Products,
Inc. through a unilateral decision of Mr. Randy Pope that was not recognized
by Forestry.
In May 1998 the Company has also discontinued the operations of planting,
developing and marketing Paulownia trees.
The Company has restructured its operations for the primary purpose of
seeking selected acquisitions with a number of entities primarily in the
forest products industry.
2. Summary of Significant Accounting Policies
(a) Cash and Cash Equivalents
All short-term investments purchased with an original maturity of three
months or less are considered to be cash equivalents. Cash and cash
equivalents primarily include cash on hand, bank overdraft and bank loan.
(b) Fixed Assets
Fixed assets are stated at cost. Fixed assets of the Company are
depreciated over the estimated useful lives of the respective assets.
Annual depreciation and amortization rates adopted by the company are:
On a declining balance method -
Office furniture 20%
Computer hardware 30%
Vehicles 30%
On the straight-line method -
Building 40 years
(c) Goodwill
Goodwill resulting from the acquisition of minority interests of Services
Informatiqes R.M.M. Inc. is amortized using the straight-line method over a
period of fifteen years.
Goodwill resulting from the acquisition of 2524-7883 Quebec Inc. is
amortized using the straight-line method over a period of three years.
Goodwill amortized in the period was NIL.
(d) Income Taxes
The Company uses the asset and liability method of accounting for income
taxes. Deferred tax assets and liabilities are recognized for the future
tax consequences attributable to differences between the financial statement
carrying amounts of the existing assets and liabilities and their respective
tax bases. Deferred tax assets and liabilities are measured using enacted
tax rates expected to apply to taxable income in the years in which those
temporary differences are expected to be recovered or settled. The effect
on deferred tax assets and liabilities of a change in tax rates is
recognized in the period that includes the enactment date.
(e) Computation of Earnings Per Share
Earnings per share is based upon the weighted average number of common
shares outstanding as of May 1, 2000 and December 31, 2000.
(f) Financial Instruments
The fair value of cash, accounts receivable, bank loan and accounts payable
correspond approximately to their carrying amount because of their short
term maturity dates.
The fair value of the components of long-term debt are determined by
discounting future cash flows in accordance with existing financing
agreements, based on the market interest rates offered by the Company for
loans with similar terms, conditions and maturity dates.
(g) Foreign Currency Translation
Accounts in foreign currencies have been translated into United States
dollars as follows:
Self-sustaining foreign operations:
Assets and liabilities - at exchange rates in effect at the balance sheet
date;
Revenue and expenses - at average exchange rate prevailing during the
period.
Gains and losses arising from foreign currency translation are deferred and
included as a separate component of shareholders' equity.
(h) Use of Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the amounts reported in the financial statements and
related notes to the financial statements. Changes in such estimates may
affect amounts reported in future periods.
3. Going Concern
The Company's financial statements have been presented on the basis that it
is a going concern, which contemplates the realization of assets and the
satisfaction of liabilities in the normal course of business. The Company's
business plan calls for the use of banks, investment and merchant bankers,
and venture capital firms to provide capital to acquire future investments.
Since the Company lost control of Dixieland, it has lost substantially all
of the assets of the Company. In order to meet its liability requirements,
management has proceeded to dispose of certain assets and substantially
reduce and delay expenditures. It is likely that management's plans for
dealing with such adverse circumstances can be implemented for the duration
of the fiscal year ending December 31, 2001.
4. Long-Term Investments
2000 1999
Interest in Gestion R.M.M., a limited partnership
initial cost $30,645 $ -
Profit sharing in net income
Balance at beginning 11,892 -
Net income over the period 1,335 -
Balance at the end of the period $43,872 $ -
Temporary investments (market value
of $68,270) 68,164 -
$112,036 $ -
5. Fixed Assets
Accumulated Net Net
Cost Depreciation 2000 1999
Buildings $108,331 $1,906 $106,425 $ -
Office furniture 35,530 32,617 2,913 -
Computer hardware 261,650 240,594 21,056 -
Computers and software 48,983 29,380 19,603 -
$454,494 $304,497 $149,997 $ -
6. Bank Loan
The company has an authorized line of credit of $228,000, at the prime rate
plus 1%. The bank overdraft and bank loans are secured by accounts
receivable and a guarantee from the administrators for the amount of
$68,000.
7. Accounts Payable
2000 1999
Trade $ 287,847 $ 134,599
Salaries and benefits 4,507 -
Withholding taxes 21,686 -
Accrued liabilities 46,320 -
$360,360 $134,599
8. Capital Stock
Authorized
10,000,000 Preferred shares, par value $0.0001 per share
100,000,000 Common shares, par value $0.0001 per share
2000 1999
Issued and Outstanding
25,403,336 1999 (20,421,636) Common shares $ 2,540 $ 2,042
NIL Preferred shares - -
Capital in excess of par value 8,082,889 7,422,620
$ 8,085,429 $ 7,424,662
9. Uncertainty Due to the Year 2000 Issue
The Year 2000 Issue arises because many computerized systems use two digits
rather than four to identify a year. Date-sensitive systems may recognize
the year 2000 as 1900 or some other date, resulting in errors when
information using year 2000 dates is processed. In addition, similar
problems may arise in some systems which use certain dates in 1999 to
represent something other than a date.
The effects of the Year 2000 Issue may be experienced before, on, or after
January 1, 2000, and, if not addressed, the impact on operations and
financial reporting may range from minor errors to significant systems
failure, which could affect an entity's ability to conduct normal business
operations. It is not possible to be certain that all aspects of the Year
2000 Issue affecting the entity, including those related to the efforts of
customers, suppliers, or other third parties, will be fully resolved.
10. Long Term Debt
A summary of unrelated long-term debt follows:
2000 1999
Loan, 12% interest bearing; convertible into
common shares; principal and interest was due
December 31, 1997 $ 196,190 $ 196,190
Loan, 1.75% repayable in monthly instalments
of $775, excluding interest, due in August 2002 21,716
Loans, secured by the Company's vehicles with
a net book value of $18,600 at a rate of between
1.9% and 7.9%, repayable in monthly instalments
of $860, including interest, due in August 2002 15,107
Mortgage, 7.45%, repayable in monthly instalments
of $340, including interest, due in September 2004 35,972
Mortgage, 5.9%, repayable in monthly instalments
of $260, including interest, due in July 2000 40,555
Loan, 6.5%, repayable in monthly instalments of
$850, excluding interest, due in October 2000 5,109
314,649 196,190
Less: current portion 218,572 196,190
$ 96,077 $ -
New management disputes the validity or existence of the $196,190 debt. In
that regard, the Company has initiated litigation to have the debt declared
invalid and is otherwise seeking to have the debt determined invalid.
Long-term debt principal repayments for the next five years are due as
follows:
2001 $ 218,572
2002 $ 17,756
2003 $ 6,510
2004 $ 1,818
2005 and thereafter $ 69,993
11. Income Taxes
At December 31, 1999 the Company had net operating loss carryforwards for
federal and state income tax purposes of approximately $3,507,000 and
$2,154,000 respectively.
Year of
expiration Federal State
March 1995 2000 $ - $ 318,000
March 1996 2001 - 781,000
March 1996 2011 2,485,000 270,000
December 1996 2012 237,000 -
December 1997 2013 353,000 353,000
December 1998 2014 299,000 299,000
December 1999 2015 133,000 133,000
$3,507,000 $2,154,000
Other temporary differences between carrying amounts of the assets for
financial reporting purposes and the amount used for income tax purposes are
insignificant and are not included in the deferred tax asset. The deferred
tax asset resulting from net operating loss carryforwards amount to
approximately $1,663,000 at December 31, 1999 and $1,318,000 at December 31,
1998. Realization of this tax benefit depends upon the Company's future
revenue from acquisitions.
A loss limitation applies if there is an acquisition of control of the
Company. Generally the amount of net operating loss carryforwards would be
limited to the value of the Company when control changed times the long term
tax-exempt rate.
At December 31, 1999, the Company also had net capital loss carryforwards
for federal and state income tax purposes of approximately $1,500,000.
Capital losses are deductible only to the extent of capital gains for a
period of five years and may not offset operating income. The tax benefit
will be reflected when realized.
Management is unable to predict whether future revenues will be adequate to
generate taxable income before expiration of the loss carryforwards.
Therefore valuation allowances of $1,663,000 and $1,318,000 have been
provided at December 31, 1999 and December 31, 1998, respectively to reflect
the estimated value of the deferred tax asset. If the Company achieves
sufficient profitability to utilize the net operating loss carryforwards the
valuation allowance will be reduced by a credit to income at that time.
Significant components of the provision for income taxes for the year ended
December 31, 1999 and year ended December 31, 1998 are as follows:
1999 1998
Deferred income tax (benefit):
Federal $1,423,000 $1,147,000
Less: allowance 1,423,000 1,147,000
$ - $ -
States $ 240,000 $ 171,000
Less: allowance 240,000 171,000
$ - $ -
The current income tax liability consists of the following balance due from
the year ended March 31, 1993 and 1994:
1999 1998
State tax $ 10,869 $ 10,869
Penalty and interest 31,895 29,439
$ 42,764 $ 40,308
A reconciliation of the provision for income taxes to the federal statutory
rate is:
1999 1998
Statutory federal rate 34.0% 34.0%
Change in valuation allowance - -
34.0% 34.0%
12. Stock Options
On December 20, 1995, the stockholders approved a Stock Option Plan for a
maximum of 1,000,000 shares of the Company's common stock to be sold to
employees and others providing valuable services to the Company at option
prices equal to the market price of the stock at the time of the grant.
The options can be exercised for a period of up to ten years and are
registerable by the Company at the time of exercise under the Securities
Act of 1933. As at May 2, 2000 these options exercised.
On December 1, 1998 the Board of Directors authorized the granting of stock
options to Louis Turp, President and CEO, to purchase up to 100,000 shares
each of common stock of the company at $.05 per share for a period of five
years and Andrea Audet, Secretary-Treasurer, to purchase up to 50,000 shares
of common stock of the Company at $0.05 per share for a period of five
years. The options were granted in recognition of past services and the
shares to be received by their exercise are subjected to Rule 144 of the
Securities Act of 1933. On January 20, 2000 the Board of Directors
authorized the granting of stock options to Richard Jamieson, CFO, and
Andrea Audet, Secretary-Treasurer, to purchase up to 50,000 shares of common
stock of the Company at $0.05 per share for a period of five years. Louis R.
Turp, President, was also granted of stock options to purchase up to 100,000
shares of common stock of the Company at $0.05 per share for a period of
five years.
On May 1, 2000, the company granted a option to the preferred shareholders
of Infynia.com Inc., to purchase 20,400,000 common shares of the company for
approximately $450,000.
13. Extraordinary Gain
As a result of a Judgment in a lawsuit in 1999 filed by the Company against
certain creditors, debts totalling $164,110, were rendered null and void.
This gain results in increased earnings of $0.01 per common share.
14. Subsequent Event
On May 25, 2000, the company has received a favourable judgment on a 12%
interest bearing loan, convertible into common shares in the amount of
$146,000. The principal plus accrued interest amounted to $196,190.
15. Business Acquisition
On May 1, 2000 three companies under common control, Reid, Marcotte,
Michielli & associes Conseillers en Informatique inc., Les services
informatiques R.M.M. Inc. and 2524-7883 Quebec Inc. merged under the name of
2524-7883 Quebec Inc. Following this all of the shares of the new company
were bought by Infinya.com Inc., the Canadian subsidary of Forestry
International, Inc.
On May 1, 2000, the company granted a option to the preferred shareholders
of Infynia.com Inc., to purchase 20,400,000 common shares of the company.
The total assets acquired was $1,021,000 and the total liabilities assumed
was $677,000.
ROBERT KLIAMAN
Certified Public Accountant
September 19, 2000
RE: 10-KSB
Mr. Louis R. Turp
President & Chief Executive Officer
Forestry International, Inc.
1205 Ampere Street
Suite 206
Boucherville, Quebec
Canada J4B 7M6
Dear Louis R. Turp,
PRIVATE AND CONFIDENTIAL
I hereby consent to the use of my name as the auditor in the
1005: Annual Report pursuant to Section 13 or 15 (d) of the Securities
1006: Exchange Act of 1934 for the 121 days ended May 1, 2000 and
1007: year ended December 31, 1999 filed by Forestry International, Inc.
1008: on Form 10-KSB.
Yours truly,
By: /s/ Robert Kliaman
Robert Kliaman,
Chartered Accountant (Ontario)
Certified Public Accountant (Massachusetts)
110 Alameda Circle Thornhill, Ontario Canada L4J 8A6
Tel: 905 707 6886 Fax: 905 707 6884 [email protected]
