Hey Stevo, you want a post backed up with information, how about the following from Dunavant himself.(Or so i'm lead to believe, as the email did not come directly from him to me here at the Springfiled Power Company, but instead by way of who knows who, to who knows who, to my trusty assistant Waylon Smithers, to me, or therebouts.)
From: William R. Dunavant [mailto:xxxxx@earthlink.net]
Sent: Saturday, June 12, 1999 7:27 AM
To: Mxxxxxx Dxxxxx; Axxxx Sxxxxx; Cxxxx Bxxxx; Dxx Sxxxxx; Exxxxx
Cxxxxx; Jxxxxx Mxxxxx; Rxxxxx I. Cxxxxxxx; Txxxxx Hxxx
Subject: Stop trading.
Importance: High
Hello everyone!
Yesterday was some day to say the least, But I would like to cover the items in the stop trade issue with you from my prospective.
1. The order says we did not give the right information on the Baraka Deal, Arthur Percarrie did the first press release before The company hired Don and I valued the deal on our stock price. The closing was held up by the Bank so I was off on the closing date by a week but we did close.I have now been told you cannot value a stock deal on our stock because Baraka cannot go sell it the next day and receive what I said it was worth. I disagree, if we are paying with stock from our company and it is trading for $4.84 cents that day than every share is worth that amount. How else do you value our company.
2. The order says the 1.5 million dollar line is incorrect. When I was in England I was in Negotiation to receive 1.5 million dollars to pay down debt and going forward money. When the deal closed it was set up different from the bank but It was for paying off debt, and the lawyers and all the banks bills with going forward money but not called a line of credit. It was issued to MTL not Corsaire but we own 51% of MTL and received the control of the money after the Bank paid itself. This was a very tough deal because I was dealing with the FBO Bank in France, Shawki Roda and his family, Trying to acquire 2 companies, one in the USA and One in England, Tom Hess knows this deal changed after the papers were completed twice. What Should of been said is the 1.5 million dollar facility was given to MTL of which Corsaire is acquiring 51% and the fund will be used ETC.
3. The order says the sales numbers from SAS are different than we quoted, when I struck the deal with SAS they said they has 1.5 million in sales, and 4 million in debt and great Technology. They may be owed money which we are negotiating on Monday. In their contracts they are owed money for licenses that is more than 1.5 million dollars, But is that sales or licenses? At this point Everyone signed off on the Press release including Lenny Bloom. So again were we giving false information to pump up the stock, (NO) I said what I was told and at the end of the day License or sales money owed I believe could be one and the same to a Licensor.
4. They order questions me! You have all read my article, The lawsuit is an open book. It settled and was not anything the SEC would or should even look at but they did. The case was civil and at the end of the day I sued the attorneys who wrote the contacts that I was sued over and won against them, nothing is said ever about that. Each person on my list must make up their own minds on item four.
5. The real issue here is why this is happening. About 10 days ago Lenny Bloom our SEC attorney went to the SEC with all our documents for the above issues that Tom Hess prepared. We than explained in our Qs & Ks all the issues with the shell and closings again. We hired a Person to issue a IP Value so we could give a real value to the Baraka deal on the IP side, the SEC knows this, so this is strange.I feel this is a personal attack against Me, maybe the Shell, But it is wrong, very wrong. I have done nothing wrong nor lead anyone astray in this company, I have told everyone there is two different business here one selling stock and Ours the one building a company together. I am sorry this is happening to all of you when you trusted me and excepted Stock as a value for your futures. I am Thinking about the future and the companies future with me in control, will this ever end, I am not sure but I do not want any of you to go through what I am going through, But I may take you there. So I would Like all of you to read this and understand what ever I do in the future with my position I do it not for me but for the good of the company.
Thank You Regards
Roger
Rog looks to be a bit stressed don't he. Anyone want to pick a favorite line from that? I have two myself, but i'd like to see what others get from it.
Mr. Burns |
