Here are four Yahoo message posts from TCTV CEO .. Mel Rosen...
Ivana Trump's partner. He was responding to the recent negative article published in yesterday's Barron's Magazine
Mel Rosen CEO TCTV reply to Barron's article
by: MRosenTCTV 679 of 824
This is the very first time that I have entered into any chat room discussion of any type. However, I feel that is imperative that a proper response be made to the article about TCTV in the December 7, 1998 issue of Barron's.
In my opinion, the article misstates facts, draws unwarranted conclusions, fails to fairly analyze the business of TCTV and seems to have been written at the behest of short sellers who are in fear of losing a great deal of money unless TCTV shares drop significantly in price. We at TCTV will do our absolute best to counter that effort.
I have invested enormous sums of money, time and energy to make TCTV's "5thavechannel.com" a great success. I feel extremely positive about our business model, our resources and our timing.
By 7 pm Sunday December 7, 1998 ,I am going to use my best efforts to post a very full reply to the Barron's article as well as try to answer questions about the near and longterm prospects and plans of the company.
On advice from legal counsel I am presently refraing from expressing certain things about certain members of the press, their integrity or lack therof, and the entities that that they are trying to benefit.
I am sorry for the sleepless nights that some shareholders are going to have tonight and Sunday night. We at TCTV are equally sleepless and will go forward aggressively with our business and do everything we can to earn the full faith and confidence of shareholder.
See you here at 7pm Dec. 8,1998. Good night.
--------------------------------------------------------------------------------
Posted: Dec 6 1998 12:40AM EST as a reply to: Msg 671 by diehardshorts
Replies: View Replies to this Message
Mel Rosen CEO of TCTV reply to Barron's article
by: MRosenTCTV 803 of 823
The article in Barron's appears to me as an effort to make a story out of innuendo about individuals that neither now nor ever have been employees, officers or directors of TCTV. Mr. Arnold's contractual relations with TCTV were entered into with TCTV prior to my having any position with TCTV. Additionally, the article itself alleges no wrongdoing by Mr. Arnold or any other party with respect to TCTV.
Here is reality as I see it.
From an unquestionable background scholastic, professional and business achievement I have now undertaken with my full heart and strength to make Tel-Com and its 5th Avenue Channel the premiere marketer of luxury goods and services utilizing the Internet, television and eventually retail points-of-sale. Although I have various opportunities to garner immediate profits from the sale of some of my shares in TCTV, I have never done so. I am not a stockmarket investor and with one exception more than thirty years in which I held some publicly trade stock for two days, I have never owned even one share of publicly traded stock. I want to build to build TCTV into a company with a big future that will be around for the long term and of which I will be proud.
In light of current press, I would like to make the record straight:
I have never received one dollar of salary from TCTV, even though I had the right to receive a salary.
I have allowed TCTV to use significant assets of mine in Costa Rica at no cost to TCTV in order to help grow its wireless cable business to its currently profitable position;
I have never sold a share of TCTV;
I have loaned money to TCTV without collateral and recently loaned TCTV $550,000 obtained from mortgaging some of my personal real estate at a cost of funds basis rather than have TCTV diluted or enter into transactions which could possibly harm the company;
TCTV is my exclusive full-time business activity with typical 12 hour workdays;
Me and my partners 60% Transferred my in the 5th Ave interest to TCTV in exchange for 600, 000 of which 400,000 was subject to an earn out based on the performance of the subsidiary., The stock was trading at that time at $3.00 per share.
(CONTINUE ON NEXT POSTING)
--------------------------------------------------------------------------------
Posted: Dec 6 1998 7:34PM EST as a reply to: Msg 1 by YahooFinance
Replies: View Replies to this Message
Mel Rosen reply revised and updated (part 2 of posting)
by: MRosenTCTV 804 of 823
Updated Version:
The article in Barron's appears to me as an effort to make a story out of innuendo about individuals that neither now nor ever have been employees, officers or directors of TCTV. Contractual relations with Mr. Arnold's company, and or Carl Caserta were entered into with TCTV prior to my having any position with TCTV. Additionally, the article itself alleges no wrongdoing by Mr. Arnold, Mr. or any other party with respect to TCTV. Furthermore, Howard Edrich was not a part-time employee of the company but rather a consultant terminated by the company after a short tenure. He has no position or contractual relationship with the company and no one in TCTV's management was ever aware of any problems that he may have had in his past. Additionally, when the company had engaged the services of Meyers Pollock Robbins which was a fully-licensed securities broker-dealer no one in TCTV's management was aware of any past or potential problems in their business conduct . Additionally, no one in TCTV management had any knowledge of the purported federal investigation of Mr. Ploshnik alleged by the press.
What is most important to keep in mind is that there have never been any allegations or charges in any form against any of the officers, directors or management of TCTV.
All the innuendo is directed to persons that have no management responsibility or influence in any aspect of TCTV activities.
Here is reality as I see it.
I am an attorney since 1968 with an absolutely unblemished record and endeavor at all times to associate with people who would tarnish that record. From an unquestionable background of scholastic, professional and business achievement I have now undertaken with my full heart and strength to make Tel-Com and its 5th Avenue Channel the premiere marketer of luxury goods and services utilizing the Internet, television and eventually retail points-of-sale. I want to build TCTV into a company with a big future that will be around for the long term and of which we will all be proud.
In light of current press, I would like to make the record straight:
I have never received one dollar of salary from TCTV, even though I had the right to receive a salary;
I have allowed TCTV to use significant assets of mine in Costa Rica at no cost to TCTV in order to help grow its wireless cable business to its currently profitable position;
I have never sold a share of TCTV;
I have loaned money to TCTV and recently loaned TCTV $550,000 obtained from mortgaging some of my personal real estate at a cost of funds basis rather than have TCTV diluted or enter into transactions which could possibly harm the company;
TCTV is my exclusive full-time business activity with typical 12 hour workdays;
TCTV presently has sufficient cash in the bank to launch its 5th Avenue Channel on the Internet.
We were in a position to launch a version of our Internet site last week, however I did not feel that the graphical interface reflected the image that we needed. There is absolutely no doubt whatsoever that the 5th Avenue Channel.com commerce site will be launched shortly and perhaps as early as this Friday. We have contractual arrangements which will enable Internet and telephone shoppers to purchase from incredibly large variety of quality merchandise from hundreds of manufacturers. We have also made arrangements that will enable us to offer, CDs, magazine subscriptions, gourmet foods and gift items.
I hope that this posting has helped clarify some matters with respect to TCTV.
--------------------------------------------------------------------------------
Posted: Dec 6 1998 7:41PM EST as a reply to: Msg 803 by MRosenTCTV
Replies: View Replies to this Message
MRosenTCTV
by: MRosenTCTV 812 of 824
We at TCTV will do our best to combat the efects of the Barron's article. I will try from time to time to read comments in this chat, however counsel feels it would not be appropriate for me to engage in internet chat. This in no way minimizes my feelings on behalf of shareholders who have invested very hard earned money and must now suffer the consequences of the need of the press to write articles that attract attention. We will continue to reponsibly build our business and publicize it to the world.
--------------------------------------------------------------------------------
Posted: Dec 6 1998 7:57PM EST as a reply to: Msg 808 by majr98
|
