More info from Carl Smith III
(copied from RB)
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To All: READ This message................Yesterday myself and other's asked people to put this r/s crap to rest. Obviously that
went on deaf ears. So, today, I DID speak with CARL III. He is the son of Carl Smith. His main jobs are I.R, and DD on any
potential acquistions. O. Howard David-Meyer, (sp). is the head honcho.First called at 9:05 C.S.T. today. Left message
w/Brenda. Carl III returned call at 9:45. Talked until 10:15. I will try to be as accurate as possible with info.....1.) R/S-- NONE will
be none for at least 30 days or longer. Would only be done if price remains deflated. The only reason one would be done is to
get NASDAQ listing. They want to and sounds likethey will, become NASDAQ listed by July, 2000. One year goal......2.) Are
any more shares going to be issued? NOT this year. Next year if needed for more acquistions....3.) What % of shares does
mgmt hold? 55%. They are all restricted from 1 to 2 yrs....4.) When do you plan on becoming a fully reporting company?
Resubmitting Form-10 by Aug.24th. Will be fully reporting before Oct.31st deadline.... 5.)Has the company sold any shares?
No...6.) What about the $5 million dollars of capitilaztion? Where did that initial come from? Do you have that money in the
bank? Per court order, 30 million shares went on the market at 1 1/2 cents, to 2 cents. They were sold at between 2 1/2 & 5
cents. Money is in the bank. 7.) What about these proxy rumors? A proxy was sent out to all shareholders of record June 30th.
That is all who were shareholders on or before June 30th...8.)Give me some info on this land deal. Do you actually own it? The
land was once owned by Duke University. Carl did not have the name of current holder in front of him. It's a done deal. Closing
won't be done until Dec. RE: Current owner would then be subject to 28% capital gains tax.(held less than one year).After 1
year I believe it drops to 21%. 9.) If you needed to ever do a r/s, what would it be? 10/1.....10.) Will all or most of your major
deal
No r/s will be considered until all announcements on battery deals, HIV deals, land
etc., are out. More news will be out shortly naming deals with NYSE listed companies, and other's. Land deal. The land is
adjacent to the Research Triangle Park. New developement area. Doctor's office's etc. Homes valued at 1/4 to 4 million. I
don't know the area but Carl said it was by Duke University, and N.C. university. DRGI buys and developes the land. Then sells
tracts or lots of it. Currently they have 600 acres. Looking at another 1000 acres. Same area. Asked Carl if they were aware of
the negativity on these boards about the r/s, and last weeks p.r. fiasco. Also asked him if he would put something out, to sooth
any ruffled feathers. Told him it was very damaging. Carl and all are aware of the backlash. They do glance at these boards.
Said they are discussing a p/r addressing it, or will be dealt with at shareholder meeting on Aug. 6th. The conversation was
pleasant and informative. Sounds like good things to come. They were initially approached by a family friend about this land
deal. I don't know if my first post mentioned it, BUT if a r/s were ever done it would be a 10/1 split. When I post this one I will
re-read the two to see if I left out anything. I have taken my time to try and help us all. For those who choose not to believe me,
or disect this, or any other negative crap--Then go to he!!, and call yourself. There are those on this board who should go to the
bank and buy a 5-yr. C.D. and go play elsewhere. Good Luck to us all. |
