Management

Frederick R. "Rick" Licht is president & CEO. He joined ULSP as a consultant 11/96 to combine athletes with animation & created "The Ultimate Sports Force." He began working with professional athletes in 1990, & founded the Sports Law department at the Beverly Hills Law Firm Resenfeld, Meyer & Susman in 1992. He started his own firm, F.R. Licht & Associates 1/94 & began working with, among others, Ken Griffey, Jr., Barry Bonds, Bobby Bonds, Bobby Bonilla, Earnie Banks & Dave Winfield. He created & built the All Star Cafe with Robert Earl (Planet Hollywood). He negotiated Ken Caminiti's free agent contract with the Houston Astros, did numerous projects involving A-lex Rodriguez, & others involving Karl Malone, Tommy Lasorda, Cris Webber, Fox Sports, Tim Hardaway, Eric Karros, Gary Sheffield, David Justice, Jeff Bagwell, Etc. .... Paul Fairchild is publisher & VP of publishing. He was marketing director at Acclaim Comics, marketing director at Marvel Comics for West Coast Publishing, & oversaw Paramount Picture's comic book publishing efforts. He oversaw comic book development & publishing for many of Paramount's franchises, including "Mission Impossible" & "Star Treck." At Matinee Entertainment, he was publisher of the comic book publishing division & developed & maintained the web site "Temp 24-7," featured in "Newsweek," "Fast Company," & other major magazines, & named by Yahoo! as one of the best 52 sites of 1998. .... Peter Sussman is VP of television & film production. He is in his fifth year as coordinating producer at Fox Sports. His work as a writer & producer earned him an Emmy nomination in 1994. In 1995, he helped develop & create Fox Sports' "In the Zone," a cutting edge, fast-paced magazine style baseball show designed to attract Saturday morning viewers & keep them turned in for Fox's Major League Baseball coverage. In its first year, it received & Emmy nomination for "Best Edited Sports Series." Prior to Fox, he was an associate producer at ESPN in Bristol, CT, working on the Emmy award winning "Sportcenter," "Baseball Tonight," & "Sunday Night NFL." .... Kevin McCarthy is editor-in chief. He was an editor in Motown Animation's comic book division. He created, wrote, & illustrated "Casual Heroes."

Financial Status

Current Assets: $485,973
Total Assets: $553,806
Current Liabilities: $355,975
Long-term Debt: $5,346
Shareholders' Equity: $192,485

* This is the date of the reverse merger. When the next financials are prepared, I will cover them in an update.

Recommendation

I recommend ULSP for both midterm & long-term appreciation. Several converging factors create a significant market opportunity:

1. Uniqueness of its product.
2. Dual appeal of the product as both entertainment & collectible.
3. Continued growth of Internet usage in general.
4. Continued growth of Internet usage by younger users.
5. Continued growth in the popularity of sports.
6. Interest in Major League Baseball is back - Major League Baseball licensed merchandise recently had its biggest 4th quarter revenue ever, & attendance was 70,372,221 in 1998 (up 10%, & the highest ever).

I like the market direction of appealing to younger audiences from the posture of sports rather than from some of the present postures I consider less appropriate -- if you look at the type TV programs kids see today, you'll know what I mean.

Contact

Call 310-829-9590, fax 310-829-9596, or write 2444 Wilshire Blvd., Suite 414, Santa Monica, CA 90403, or contact ULSP's financial PR firm, Noble House of Boston, 888-217-2553, fax 407-339-4826 www.noblehouseofboston.com

Important Strategies

These comments apply to every situation mentioned in Conserva-tive Speculator. Special situation, low-priced, micro-cap, & high-gain-potential stocks have high risk. Fortunately, not many speculative situations turn out to be disasters, but some do -- that is a risk you must accept. "Winning Investment Strategies," my 60-page guide to speculative investing, is made available to every regular CS subscriber. Stated extremely briefly, here are three of my most important strategies:

1. Be prudent -- the total funds allocated to speculative stocks should be limited to a small percentage of your cash, certainly no more than you could lose without discomfort. I then suggest no more than 5% of that small portion be invested in any one stock, to spread your risk.

2. Do not accept my opinion as the reason to invest. Call the company. Get a feel yourself. If you are not totally comfortable, pass. I give you an ample number of possibilities. My task is to expose you to potentially profitable situations. You have the responsibility of making any investment decision. Do not give up that responsibility.

3. Since in a monthly newsletter it is not possible to tell you when to sell, apply a moving stop-loss strategy. If the price goes up, raise your stop-loss guideline point to something like 20% below the new price. Keep doing that as the price rises. If the price goes down to your stop-loss point, grit your teeth & sell. This limits loss, but lets profits increase.

Update Briefs

This section does not include information from the news releases I receive on situations I have covered in past recommen-dations or Sneak Previews. If you hold any such stocks, please get your news & updates from www.WallStreetCorner-.com by using "Financial Navigator."

Just click of the "Go Search" button on the bottom right of the home page. When the Financial Navigator page comes up, just type in the symbol of the company. You'll get the current price & volume, & can usually get almost anything else you want from the pull down menus under "News," & the other categories of information at the top of the screen.

I usually include only the one to three situations where I have either personally interviewed management, or believe some personal comment by me is appropriate. I do not have room for much detail, but on each situation I cover, I include contact information for your convenience.

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