Exhibit 99
Letter of Intent
Mortgage Assistance Corporation
P.O. Box 131618
Dallas, TX 75313
Tel. (214) 670-005
Fax (214) 670-0001
May 14, 2004
Dale Hensel
Safe Alternatives Corp of America, Inc.
2614 Main St.,
Dallas, TX 75226
Re: Letter of Intent Business Combination
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Board of Directors:
Subject to your shareholders' approval based on a your board of
directors' recommendation, Mortgage Assistance Corporation offers to be acquired
by Safe Alternatives Corporation of America, Inc. on the following terms and
conditions:
SACA board will call a special shareholder meeting or obtain a majority
shareholder consent in lieu of a special meeting according to the Florida
Business Corporation Statutes and recommend and approve the following actions:
1. Effect a reverse split of the SACA common shares on a One for Two Hundred
Fifty (1:250) basis;
2. Effect a corporate name change from SACA to Mortgage Assistance
Corporation.
3. Change your authorized common stock capital to 50,000,000 shares;
4. Authorized a business combination whereby SACA will exchange 12,000,000
post reverse split common shares for all of the issued and outstanding
common stock of Mortgage Assistance Corporation.
5. Any such further recommendations as may be considered reasonable and in the
best interest of the shareholders.
If the following proposal is acceptable, I will commence with document
preparation. I represent that sufficient funds are presently held in trust in
anticipation of closing.
MORTGAGE ASSISTANCE CORPORATION
/s/ Dale Hensel
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By: Dale Hensel
Title: President
Subject to shareholder approval and SACA accepts your proposal.
SAFE ALTERNATIVES CORPORATION OF AMERICA, INC.
/s/ Dale Hensel
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By: Dale Hensel
Title: President