Fonix:Voice Recognition Product (FONX) Message Board

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Technology Stocks : Fonix:Voice Recognition Product (FONX)

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To: Dave Rebok who started this subject	1/10/2002 1:23:56 AM
From: Randall E Westberg	Read Replies (1) of 3347

I know this may seem as though I'm nit-picking at fonix but I thought I might as well go back to the FONX web page and get caught up to date on Fonix-Speak. I can see that Fonix-Speak is still alive and well on the FONX homepage. This is from the Roger Dudley & Tom Murdock Q&A 2001 2. Why not ask for the increase of additional authorized shares at a later date? Due to the current uncertainty in financial markets, the financial viability of Fonix could be severely restricted if it delays shareholder approval. The company will be hindered in fulfilling existing contracts and obtaining new customer contracts if it cannot demonstrate a sound financial plan. The additional shares will establish the basis for sustained financial viability and increase customers’ confidence in Fonix’ ability to perform. Any request to increase the authorized shares requires shareholder approval. Hence, the board of directors is putting forth this proposal at a regularly scheduled annual meeting to avoid the duplicative cost of proxy solicitation. With 50,000 shareholders the cost of the solicitation and meeting is approximately $125,000. <<Any request to increase the authorized shares requires shareholder approval.>> Total Fonix-Speak... On at Least one occasion Fonix has taken "Corporate action without a meeting by written Consent" Fonix does as Fonix will... Second part of this Q&A paragraph is quite humorous.. <<With 50,000 shareholders the cost of the solicitation and meeting is approximately $125,000.>> You all do the math... Roger is saying that there are 50,000 shareholders in a company with a market cap of about $ 30,000,000 ...thirty million... yeah right!!! I really don't know why Mr. Dudley does the things he does but it has not served the company very well over the past 6 or 7 years.

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