To all Madenta readers,
On November 1, 1998 a SI member by the name of Crazy8 posted a message to this thread regarding Microsoft and Madenta. The message as you can read for yourself, accused the president of Madenta, Randy Marsden, of turning down a $1.00 per share offer from Microsoft.
Since that message was posted I have had numerous communications with SI member Crazy8 who has since changed his name to 24karats. I have asked repeatedly for him to prove that his information is accurate. He has not responded to this at all other than to say that it happened and that is all there is to it, take it or leave it.
As an initial IPO shareholder, I have developed a relationship with this company that would normally result from continuous due-diligence.
As you call any company for information you end up speaking to many of those who are part of the decision making process. Myself, I prefer to deal with top management.
Regarding Crazy8/24karats and his accusation, I presented this to the president of Madenta. First of all he was not aware of the Silicon Investor chat line until I had brought it to his attention. He was quite surprised about the accusation and wanted to know where this information came from. I tried to get Crazy8/24karats to divulge his source but as stated would not comply. Several communications between myself and the SI member ensued based on his divulging that he held 700,000 shares of Madenta. 200,000 via a private placement and 500,000 of which were supposedly purchased in the open market. This SI member offered his opinion of how things had gone wrong with the company and that he potentially had the answers. I indicated that I was sure that president Randy Marsden would appreciate talking to the SI member. I also indicated that the company was finalizing an offering memorandum if this SI member was interested. Crazy8/24karats expressed interest if certain conditions could be met. In short all the conditions were able to be met. President Randy Marsden repeatedly asked me to forward his number to the SI member so he could contact him. No contact was ever made even though the SI member keeps saying he followed through on the request.
It truly is unfortunate that this had to happen, but it did. The warning here is that you have to make sure you know who you are dealing with when considering the information on SI, if at all possible.
The president of Madenta Communications, Randy Marsden prepared this statement and asked me to post it on Madenta's thread.
"In regards to the numerous messages posted by subscriber Crazy8 and/or
24karats I feel compelled to alert this chat group to the inaccuracies of
many of his statements. In particular the following facts correct his
misleading statements and are easily verified:
1. I (Randy Marsden and President of Madenta) unequivocally state that
no offer was ever tendered by Microsoft to purchase Madenta for $1.00 per
share. (This can be confirmed with Greg Lowney, head of the disabilities
group at Microsoft).
2. No individual has contacted me personally who has identified himself
as Crazy8 and/or 24Karats or an assistant of an investor, or simply as a
shareholder who would like information who I have given the "cold shoulder"
to. Madenta currently has an outstanding Offering Memorandum and I am
predisposed to speak openly with anyone asking questions. I have voice
mail, email, a cell phone, a secretary, and document all my messages. I
have received no such contact as Crazy8 claims.
3. Given the trading history of the company, it is impossible for one
person or entity to have purchased 500,000 shares on the open market as
Crazy8 claims, unless it was done through several different brokerage
houses.
4. I personally have no idea who this anonymous fellow is, or why he
has launched this assault on Madenta, New Ventures, and myself.
I welcome anyone wishing to discuss the facts and business of Madenta to
contact me directly at 403-450-8926.
-Randy Marsden, P.Eng.
President, Madenta "
-----Original Message----- |
