Camelot, formerly Bolyard Oil & Gas, is an inactive holding company controlled by Daniel Wettreich, that once had a 10% interest in Firecrest. Camelot terminated its business relationship with Firecrest and apparently sold its shares on the open market. From the Camelot Form 10-K/A:
sec.gov
"In November 1995, Registrant appointed Firecrest Group plc a public company, as exclusive distributor for DigiPhone in the United Kingdom and Ireland in consideration for $1,950,575 payable by shares equal to approximately 10% of Firecrest. ("Digiphone Rights") In March 1996 all relations with Firecrest were terminated and Registrant sold all its shares in Firecrest in market transactions. Subsequently, Firecrest sold its DigiPhone Rights to Meteor. In July 1996, Registrant sold the European rights to distribute DigiPhone to DigiPhone Europe Ltd which became a subsidiary of Meteor. The consideration was (british pounds)5,000,000 of loan stock which was subsequently converted into Meteor shares. In November 1996 Registrant sold theinternational DigiPhone rights to Meteor for (british pounds) 1,000,000 pounds of loan stock which subsequently was converted into Meteor shares. In May 1997, DigiPhone International, Ltd. a Meteor subsidiary, became the exclusive marketing company for all Third Planet products on a worldwide basis."
At least two of your posts imply that Camelot still holds its XSNI shares. This is understandable as the 10-K/A is inconsistent in places and includes the following comment in regard to Firecrest with no reference to the sale of the shares:
"The appointment of Firecrest Group PLC as exclusive distributor for DigiPhone in the United Kingdom and Ireland, occurred during the period under review. The consideration for the granting of the UK and Ireland exclusive rights was $1,950,575 payable by issuance by Firecrest of 1,856,453 ordinary shares equal to approximately 10% of the increased share capital of Firecrest. Firecrest is a media and marketing company in the United Kingdom."
Regardless, it really does not matter if they still hold the shares and my main concern is finding some current connection between Wettreich and XSNI. Help me out. |
