Gentlemen,
I would like to introduce The Genesis Daily News. This report will be released by 8:00 EST Monday through Friday and will contain the all the important news and associated posts that are found within the thread for the day. This service is in no way part of Genesis or the SI. The posts will be duplicated here in full and none will be edited for content. Along with this you will find the direct links to all the posts found within the letter. What you will not find here is bashing of any kind, any of the casual conversations of the daily posters or any type of editorial. This will provide us with several benefits. First we will have a stable reference which is easy to read and follow. Second, time will be saved by us and the potential investors who read this thread. Third, Unnecessary bashing of the stock will be effectively removed. Do not misunderstand this benefit, ALL negative posts of substance will be included without exception. It is recommended that you read the thread in full.
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exchange2000.com`wsapi/investor/s-8202/reply-4308
To: buzzlite (4306 )
From: Lee Solomon Apr 18 1997 7:36AM EST
Reply #4308 of 4417
To All, From StreetLevel:
FOR IMMEDIATE RELEASE -- FRIDAY, APRIL 18, 1997 -- 9:30 A.M. (EDT)
GIFS' CRIC UNIT ASSETS AT $99.25 MILLION:
FINAL REPORT TO INCLUDE DETAILS FOR IMPROVED PERFECTION OF COLLATERALIZATION
(GIFS-OTC-BB) announced today that the preliminary due diligence summary
prepared by an international office of BDO in conjunction with the sale of
its CRIC unit has reported the property valuation underlying the instruments
representing the critical assets of CRIC, in accordance with the appraisal
made by Banco Union, S.A., an authorized financial institution, factually
agree in general terms with certificate stated amount of $100m less
liabilities equivalent to approximately $714,000 creating an approximate net asset collateral value in excess of $99.25 million.
The final due diligence review report expected to be completed later next week will include several alternative methods whereby the parties to the sale (buyer and seller) can improve the perfection of their collateral interests in those underlying assets to be incorporated into the closing documents of the $117 million sale of its CRIC unit. The company has provided this information to the international buying group led by Suisse Private Banking, Ltd., and InterFinance Banking Group. Dr. Nelson Aquino, lead counsel for the internatioinal buying group, has re-confirmed their complete agreement and total commitment to the April 28, 1997 closing date previously reported.
In addition to the foregoing, since the Company has issued its Brokerage Advisory seeking to stop the illegal and unauthorized dilution of its Shareholders' equity, efforts by those who have a vested interest in driving the price of the Company's stock lower have intensified.
The Company has become aware, for instance, that as a final resort, threats have been made to attempt to undermine Shareholder value through unethical attacks on the Company's 34- year-old CEO, Mohamed Khairy Mohamed Zayed, II and his character. Friends, associates and business partners of the CEO have long been aware of a youthful indiscretion over a decade ago that resulted in Mr. Zayed having fully paid a debt to society through a period of incarceration, completed over 7 years ago. This has been made known to the CRIC international buying group and interested parties involved in the sale of the CRIC unit.
While there were extenuating circumstances whereby Mr. Zayed may have been victimized as a scapegoat by business associates much older than he, the courts did not agree and Mr. Zayed nevertheless has always accepted full responsibility for his actions and the consequencies of those actions.
Mr. Zayed has since received numerous honors, including a Distinguished Citizen Award, a listing in the Who's Who in American Business Executives and Professionals. His experiences also served as an inspiration for his efforts to provide financial support to other Minorities seeking entree into the mainstream business world, and forms the backbone for his Company's subsequent bonding activities for Minority businessmen and women.
Mr. Zayed regrets that because he was thrust into the public arena via his acquisition of an existing public company, his character and integrity, and his family's name could subsequently become a pawn in unethical attempts to undermine investor confidence, and reassures shareholders that these matters have nothing whatsoever to do with the Company's businesses, revenues, earnings or its impending transactions with any parties; and that ultimately, the Company will prevail as the full value of the Company becomes evident over the next few days and weeks through the impending sale of its CRIC unit as well as ongoing revenues and earnings reports.
He also stated that these efforts have only hardened the Company's resolve to protect the Shareholders from dilution of their equity, resulting in the actions taken Thursday to assume direct control of all transfer operations.
(GIFS-OTC-BB) is a diversified holding company maitaining investments in the financial services industry, medical products industry, agricultural industry, real estate, natural resources and gold mining industries with investments in other hard assets, securities and projects. For more information about GIFS contact our Investor Relations Department at 735 Broad Street, Suite 1001 -- James Building, Chattanooga, TN 37402, (423)
266-7544 or via Email at: investor.relations.genesis@juno.com. You may also obtain more information about GIFS by visiting our website at
gifs-inc.com.)
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exchange2000.com`wsapi/investor/s-8202/reply-4338
To: Carl Pergler (4331 )
From: J. Anthony Apr 18 1997 11:00AM EST
Reply #4338 of 4417
CASE # 976251-CIV-ROETGGER! FILED IN THE FEDERAL COURT SYSTEM
Read for yourselves and then determine the validity of the case. Either way the lawsuit has been filed and GIFS has responded. GIFS, is claiming that the plaintiffs shouldn't litigate due to a prior agreement.????????
Transfer agent issue>>>>They resigned. The transfer agent was named as a co-defendant, in the lawsuit, compeling them to comply with SEC rules in regards to 144 stock. In addition, press releases made by GIFS stating that stop transfers were placed on certain 144rule shares, never happened. The transfer agent is aware of these releases made public, however, he has never been instructed to place any "stop" on anything. Last, the transfer agent informed GIFS (several weeks ago), to respond to "open issues", he is still waiting.
>>>GIFS is going to self-transfer. Why? can't they can't find someone that will play by their rules instead of the SEC rules?
ATTORNEYS: 1. James Pratt (NY), will not comment on his reason for leaving the company, but it was not amicable. 2. Jack Quarant (Illinois) departed reason unknown. 3. Mr. Rosen (CA), current attorney. 4. Mr. Gavin (fl) responded to lawsuit.
WELL PEOPLE THESE ARE THE FACTS. DO WITH THEM WHAT YOU LIKE
AS FOR JAIME P. what do you mean by "bitch slap". Keep your personal wife beating tendencies private you immature, worthless punk.
Love,
Julia Anthony
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exchange2000.com`wsapi/investor/s-8202/reply-4344
To: J. Anthony (4338 )
From: Marc T. McCurry Apr 18 1997 11:16AM EST
Reply #4344 of 4417
As I stated yesterday, I think we all knew that there would be lawsuits filed over the Section 144 stock issue. O.K. there is a lawsuit. Let's let the court system work it out. There are three sides to every story - theirs, GIFS's and the truth. Let the courts decide the outcome, not this thread. Like I said yesterday, this is about 1 million shares out of 21 million. Even if the disputed shareholders win and get their shares, it does not make a material impact on the financial statements. Sure, more shares, but at the same time, no major impact. I am sure most GIFS shareholders could probably care less at this point in time whether there are 20 million or 21 million shares outstanding. We shall see. Well, I have to leave now. It will be interesting to see what the latest post does to the price, but again, I simply want to state the facts:
1. These shares have been disputed for months
2. With everyone threatening lawsuits, this doesn't surprise me
3. I am sure everyone who bought the stock knew there were disputed shares
4. Let's let the courts decide who rightfully owns the shares. I am willing to abide by their decision, even if the disputed shareholders get their shares.
5. i am not going to sell my shares based on this lawsuit. In fact, I am kind of surprised this thing didn't wind up in court earlier.
6. In our litigious society, these things happen. I will say one thing, the suit does provide an additional footnote disclosure for the financial statements and managemetn will be required to state their case to the auditors and the auditors will have to get all the facts and THEY will decide whether it is material or not.
That is my brief summary as I am out the door.
Mtm
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exchange2000.com`wsapi/investor/s-8202/reply-4348
To: Jaime J. Pulaski (4345 )
From: Marc T. McCurry Apr 18 1997 11:25AM EST
Reply #4348 of 4417
I don't want to get involved in the soap opera, but . . .
If I somehow came across the info J. Anthony had, I would probably sell my shares ASAP. Then, I would post the information. Makes no sense to me to make a post like that yesterday. Watch the price slide and then state, oh, by the way, I am long, and holding at a higher level. Financial suicide doesn't make sense to me. I just can't see slamming a company you own stock and then saying : boy - am I ever hoping for a rebound. I were in J. Anthony's position and found out public information in a valid way, I would have done the following if I believed in the long term aspects of the company.
1. Sold my shares
2. Make the announcement
3. Buy in at a lower level.
Again, perhaps it is my inductive and deductive nature, but the strategy makes little sense to me. But hey, I've been wrong before and I'll be wrong again. Time will tell.
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exchange2000.com`wsapi/investor/s-8202/reply-4350
To: Micaella Schocker (4347 )
From: Jaime J. Pulaski Apr 18 1997 11:27AM EST
Reply #4350 of 4417
We learned a very valuable lesson yesterday. It will stick in our minds for a while.
Jaime
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exchange2000.com`wsapi/investor/s-8202/reply-4361
To: J. Anthony (4358 )
From: greg martz Apr 18 1997 12:09PM EST
Reply #4361 of 4418
I thought you said you were going to "ride it out", now you said "I did sell my stock". You continue to add credibility.
Just my opinion,
Greg
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exchange2000.com`wsapi/investor/s-8202/reply-4372
To: Carl Pergler (4368 )
From: greg martz Apr 18 1997 12:51PM EST
Reply #4372 of 4418
Yes Carl, you are right. But I think it is how she put the information there. Big capital letters, no additional facts. She knew all the info but decided not to post it. Yes it was purely for her own adjenda and not meant to help anyone else. Marc is right in saying we could have expected a lawsuit, and the fact that Genesis did not post anything about it does not bother me. How many times do companies get these type a lawsuits? I would guess it happens quite often. And how many times do they put out releases to say they are being sued? I would say not very often. I believe the company has been pursuing legal action against these people for a while and this suit is basically retaliation. As for the crimanal record. Look on Stock-Line somebody posted a similar post back on 4/2, no facts, no other information. It was ignored. It does not effect the deals and current business of the company, the fundamentals have not changed. I would not be surprised to find out that Julia is connected to this lawsuit in some form or fashion. Before people use information posted like this to assign value to their stock the should consider who the messenger is and wait to get all the facts before panicing.
Respectfully,
Greg
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exchange2000.com`wsapi/investor/s-8202/reply-4376
To: Carl Pergler (4373 )
From: Jaime J. Pulaski Apr 18 1997 1:06PM EST
Reply #4376 of 4418
Carl, please understand that to beat the news release from Genesis was their plan!!! I can't restate this enough times.
Jaime
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exchange2000.com`wsapi/investor/s-8202/reply-4387
To: Jaime J. Pulaski (4285 )
From: Bob Wolff Apr 18 1997 2:25PM EST
Reply #4387 of 4418
ALL:
Jeff is right, he has been trying to inform us about things. When I first read his posts, they rang true. Some people here need to apologize to him for their unreasonable suspicion.
And Jaime, I like what you posted. It is the same pattern I've seen for the past couple months, but until yesterday and today I didn't see a need to pontificate/speculate/etc. In fact, I was planning to say much the same as you -- the pattern is a setup. The timing is just too good. Pre-emptive strikes. I agree with Marc, this could be a great case study for an MBA program, or a book on "Investing and Di-Gel", or an excellent novel.
And the adventure continues...
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exchange2000.com`wsapi/investor/s-8202/reply-4397
To: michael d kugler (4374 )
From: Bob Wolff Apr 18 1997 3:36PM EST
Reply #4397 of 4418
Lou said this in a number of posts starting with www3.techstocks.com on 12/27/96 and continues on and off for about 2 or 3 months (didn't check all the posts again, just know there were a bunch of them going back and forth, on and off, for awhile).
Also, as Lou stated and explained in a number of posts back then, he did NOT buy through a transfer agent. He conducted the business transaction with the seller in the transfer agent's office to facilitate immediate receipt of the stock certificate.
As for a misunderstanding, there is the possibility. Whether Lou, the seller, the transfer agent, or someone from the old management is the bad guy (or fool who screwed up somehow), there is no way to tell. Let the courts worry about it. Marc's worse case scenario of adding 1M shares (5%) to outstanding is not a huge impact on the numbers, the big things we need to worry about. Who knows, this worse case could be turned into a positive if the stock price gets above $5 about the same time the float is increased.
And the adventure continues...
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exchange2000.com`wsapi/investor/s-8202/reply-4410
To: J. Anthony (4404 )
From: greg martz Apr 18 1997 5:23PM EST
Reply #4410 of 4418
I was looking over your first posts, To all this can be very enlightening. Read the first four posts from our beloved Julia. She had been following this stock for 5 months bought in at 3 bought more at somewhere between 1.50 and 2. She said this was a great buy, everyone should buy 10k or 20k more. Then bang just over a week later the big news. You mean to tell me after following this stock for all that time and being that up on it, telling people to buy 10k and 20k more that she just all of a sudden comes across all of this terrible news, not just one thing mind you but 2 or 3. Did someone just call her out of the blue and give her this information, if so, why her? She had not posted much and had not created much credibility. Why not someone who people trusted more? In a matter of a couple of days from her last post she just stumble across this information? Well in my opinion, this is how a real shorter works. Something to think about. My opinions only.
Greg
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