**** MOSCOW     F A X transmission on date May 14, 1999 *****

TO:          Mariano Maistrello IRRS
FROM :  Yuri YUROV  (Spetsgeofizika)

Dear Mariano,

I have received your message only 11 May: during 30/04-10/05 we had vacations. I briefly describe our financial situation:

TRANSFERED: 68,000.00 ECU  ( 1)  =    72,356.96 USD      advance Payment          (1) : of these, 61,000.00 returned to General Bank to pay for the

Roy Company contract (it was supposed to be 61,000 ECU)
                               2,000.00    "            =      2,145.93    "          periodic       "

            TOTAL  70,000.00                =    74,502.89   "
 

EXPENCES:

Lab. Costs        Overhead       Travel        Equipment          Consum.          Other         TOT.             Rest

  1,600.00              434.89               /                51,661.00             112.00               /           53,807.00     20,695.00 (2)
 

                            (2) 14,471.00     ( still FROZEN in MOST-BANK, Moscow )
                                    6,224.00      ( still FROZEN at General Bank, they are the difference of :
                                                             61,000.00 (returned from Moscow) - 54,776.00 (the true second version 'Roy' payment )


        Tot.   Rest :     20,695.00

From these data it is clear that we expended very small part of the Labour Costs which is stipulated in the Work Programme. Digitizing is a hard work and without money the work goes slowly.

I intend subdivide the next 5,500.00 ECU into three parts: