Well look at this: Rhonda pays BLACKMAIL. Where is the blackmail money coming from Rhonda babe? Why would you pay it if he was telling lies? Just where are those revenues that would let you pay it? How much was it you were going to pay him? If you had been working on filing with the SEC as you claimed since June of 1998 why would you be surprised that they will want you to file both 1998 and 1999? Come on, you aren't serious that you were really surprised now were you? And finally, when you say there are no common directors or officers with IDFR, you mean NOW don't you? Not from before your buddies resigned, I trust? Oh and give my regards to Tony.
January 8th, 2000
The Company wishes to respond to a number of issues raised on the Raging Bull Message Board. The Company will not involve itself in a debate with individual posters on the thread and will continue its policy of only issuing official press releases when there are matters of material change of circumstance, either positive or negative, which is required by the regulations governing the Company.
In the fall of 1999 the Company President received an email from Mr. Haugen threatening to contact Cashco's customers directly and advise them that he would sue them if they carried any of Cashco's enPact! Contact Management software products. The Board was advised by counsel that the content of the email was such, that if Mr. Haugen resided in the United States, the Company would have been able to press criminal charges.
After a constant barrage of slanderous and defamatory public statements, posted by Haugen on the Message Board of Raging Bull, a shareholder of Cashco's invested his own time and money to arrange a meeting with Haugen, his lawyer in the presence of Cashco's attorney of record in Pennsylvania in October 1999. The investor, in an attempt to protect his investment, indicated at the meeting that mediation was more expedient than having the Company squander its resources dealing with Mr. Haugen in the French courts.
At the meeting, it was clearly and emphatically stated that the Company stood behind its ownership of the enPact Contact Management product line and the meeting was in no way to be considered a validation of Mr. Haugen's spurious claims. Mr. Haugen, in the presence of his attorney, was informed that against the advice of Cashco's attorney, the Company was prepared to pay Haugen what amounted to “extortion” or “blackmail” in order to avoid paying enormous legal fees. Neither Haugen or his attorney challenged nor denied the accusation. It was also clearly understood that Haugen would be the direct recipient of the funds, not Relate Technologies or its shareholders, which Haugen claimed owned the rights to the Contact Pro Software.
An agreement was to be drawn up and the execution of same was contingent on Mr. Haugen's silence on the message boards. Mr. Haugen chose to break that silence on January 3/2000. The agreement has now been rescinded. It is the opinion of the Company that the proper forum for resolution of disputes is in the Courts not on the message boards of the Internet. The Company will not be party to responding to Haugen's diatribes.
The filing for Cashco's fully reporting status was near completion at the end of 1999. We have now been informed that we will need to include the audited financials for the year ending 1999 to include with the previous year ending December 31, 1998. We anticipate all segments of the filing to be completed by March 1/2000 subject to co-operation from auditors and lawyers.
For the record, Cashco has had a business relationship with ID Four and there are no common directors or officers. The Board of Directors of Cashco is not privy to the internal workings of ID Four's Board of Directors. Postings on the message board of a potential “blending” of the two companies is pure uninformed speculation and are false.
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