``Following the completion of the merger , it is our intent to become a fully reporting public entity through the filing of a consolidated Form 10 with the Securities and Exchange Commission, and we believe that the merger should provide the necessary criteria for an eventual move onto the Nasdaq.' biz.yahoo.com
In December we had "The Company also recently announced plans to file an application with the Securities and Exchange Commission (SEC) in order to become a full reporting company according to SEC guidelines."
On April 26, 1999, we had ""Finally, following the conclusion of our fiscal year end on April 30th, we will be filing a complete financial statement with the SEC, a step which is a necessity as we look to eventually change our bulletin board status. Over the next several months, we will continue to analyze our present position in the marketplace and how best to meet the goals and objectives of our management team and shareholder base."
And so it appears that we shall have no financial reports any time soon. For the past 4 months, Mvee through Clint and on press releases has been telling us that the financial reports would be out at the end of the fiscal year. Clint told me that they had 90 days from the end of the fiscal year and that would be by July 31, 1999. Well, July 31 came and went and still no numbers. Clint told us that the numbers were finished but that form 10 was "being reviewed" and would be issued "soon" whatever that was supposed to mean.
Obviously, this merger cannot be accomplished without a shareholder vote and that cannot happen without a shareholder meeting. Does anyone know when the meeting is to take place? I am very long on this stock, but I am getting real tired of being lied to about the numbers. I realize that the share distribution is such that minority shareholder vote is meaningless, but how can the company, with a straight face, expect shareholders to vote on this merger without having benefit of the financial report? |
