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Microcap & Penny Stocks : Airstar Technologies, Inc. (ASTG)
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To: Wes who wrote (3681)10/7/1998 1:56:00 PM
From: JohnSKnave  Read Replies (2) of 3967
 
Wes,

I read the brief which was filed by Airstar against JL et al. and what I came away with are these points which strike me as issues which should be addressed.

1.) When Airstar/Compliance signs first entered into negotiations should they not have conducted due diligence regarding Joe Lanza's qualifications to conduct the activities for which he was being contracted? I know that when I have hire people to work for me I have done more research into their background for a $10/hr job than seemingly Airstar did in regards to Mr. Lanza. He did not use a fictitious name that I am aware of. The previous charges are all made against the same name, Joe Lanza, and therefore a basic credit check would have revealed some of the things that are alleged in the suit.
2.) With regards to the stock, which was issued to the various parties, I would assume that a company that was being advised by competent counsel would have entered into a shareholder agreement to limit the exchange of the stock. There is no mention of any such agreement that I am aware of.
3.) I have seen various accusations of the disposal of shares by Mr. Lanza and his associates but have not seen evidence to support that. I have not seen evidence that the dividend on the preferred stock was ever paid. If Mr. Lanza controls so much stock those are the only ways in which he could enrich himself. If the value of stock goes to zero it would not matter if he held all of the stock because the value would still be zero.

John Sparks
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