All:
Well, I suppose many of you have read or heard about the news (seen in CNET) about the TechSearch lawsuit with Intel (using X86 technology by IMS). Its a complicated setup alright. Hopefully the facts will come out completely, and soon, as this has a tremedous bearing on our position as shareholders, of course. Obviously, 1/2 trillion bucks is not to be sneezed at!
Let me pose an opinion or two, and ask a couple of questions:
Apparently, IPIQ think possession is 9/10 of the law! In my business, real estate, that may often be true. I may sound like a broken record, but my sirene song for all this time is: this is a public company! I didn't put my thousands down on a private arrangement to be jacked with at the leisure of every slaggard, scam artist, and flim flam man to come down the dirt road! Public companies have SEC rules of the road by damn! If it weren't that way, we would not be here cause I never heard of IMS until it was described to me as a public co with potential- with publically traded shares that I could invest in. nuff said.
Read the SEC objection letter to our bankcruptcy court handling our case. Check out the Delaware laws that apply. By God, this case will be made to adhere to these rules- or we will take it all the way up- bank on it!
I am keying in one item in particular- the Cnet article states that,
the patent was bought last November and filed this June while IMS was/is in bankcruptcy. Could this be an accurate quote? Reporters do make mistakes, but if so this is a whopper! Think for a moment if it were true- is this what has been going on in our company for all these months? Did the directors and officers actually sell off our major asset that the company has been developing for the last 10 years+? Without saying anything, period, til now (assuming the quote from the article came from an inside source)? Setting aside the validity of the lawsuit claims, and understanding that will take us some time, we need to hone in on a couple of important facts that may develop out of this.
Some of us have had the opinion that things were NOT RIGHT, and have not been for quite a while. We have collected so much evidence in that direction that its hard to ignore it! Heck, top government officials are now joining in questioning what has gone on. How could a public company, without any notice at all to anybody, do such a thing? Set aside the ethics, look at the law. It is spelled out clearly as a matter of fact in the SEC objection just recently filed! Could all these directors and officers of meta have been so blind back- in NOVEMBER of 1997!! A public company of record, must secure 80% approval of the shareholders (through a properly overseen, official vote!) to sell off major company assets! - If the X86 chip tech is not (after 10 years+) then what else would suffice this rule? Did not TechSearch know this about the law? Their attorneys sure know how to go after the big gun in town. How did they overlook this little requirement?
If you don't think this smells fishy enough, ask yourself, if our fine shepherds of meta have known this for all this time- why did they keep telling the court (and us) in their filings that the meta 6000 was to be left in the shell which we would be keeping after the "valuable assets" were taken away by IPIQ? I'd like to know what the judge will say to this little item?
Well, do we still hold rights to the meta 6000 or don't we guys? Let's see the sales contract dear Board. Let's get it out here right now! We are going to get it sooner or later. When did you guys sell away our assets? Back in November? Did you think you would have this bankcruptcy all wrapped up by now, and we would be out in left field will no power to argue with? Mr. Vaughan, are you with us? Dear SEC, "in case you missed the latest news on our company that you have been investigating, here is a little news item you may find of interest".
Now are any of you invigorated? Might it be worth investing a little time for you to call/join ILDF and start helping a little more? I hope you held on to your shares until we get this settled. At least you may find things getting even more interesting as we go along.
I hope the other side hasn't run all of us off! If not, for goodness sakes, get involved a little will you? There's only been a couple of people up in Ohio that have been holding the fort for you, waiting for you to enlist!!!
dd |
