Exhibit IV-3

     It is anticipated  that a significant  change in results of operations from
the  corresponding  period for the last  fiscal  year will be  reflected  by the
financial  statements  that will be  included  in the  Company's  10-QSB for the
fiscal quarter ended September 30, 2000.

     Such additional  change is due to the recent  resignations of the President
and Chief Executive  Officer and all of the Board of Directors of the Company as
reported  in the Form 8-K filed  October  26,  2000,  which has  prohibited  the
Company from producing a narrative or  quantitative  estimate of the anticipated
change. The Company does, however,  anticipate to report insignificant  revenues
for the fiscal quarter ended September 30, 2000.