Respond to a call of a friends friend ;-$)))
I asked him how he felt about the current price of Fonix. He told me to relay
to the people I write to that they are too very frustrated with the share
price. He stated NOTHING has changed as far as their mission, technology,
goals, sales. He emphasized that the companies that we partner with are in
the same boat. The overall NASDAQ is down. He mentioned INTEL, MSFT, MOT,
NUAN all being down in their share prices. They don't like it, but everyone
is in the same boat at this time.
He mentioned that the new SEC ruling about public disclosure would not change
how they have been currently conducting business. He stated that that ruling
will mainly affect analysts, and brokers who previously would get information
before the investors. It puts everyone on the same playing field now in
regard to getting information that can be publicly disclosed.
I asked him about the SEC filing that mucmara keeps mentioning that has to be
filed by FONIX by October 15th. He said, hang on, he didn't think so, but
wanted to verify it. A couple of minutes later, it was evident I was on
Speakerphone, and there was someone else in the room. He stated that the
filing that mumara was talking about is a mute point. The S-2 amended filing
had already been approved and accepted the first part of September, therefore
no filing is necessary by October the 15th, as mucmara keeps mentioning. If
it had NOT been approved and accepted then YES the filing would have been
necessary by October 15th. He stated their next filing would be the 10Q, 90
days after the end of the 3rd quarter. The filing will be done by November
the 14th, since there are 31 days in October. There would then again be an
S-2 filing after that. That is something that the SEC now requires. Nothing
new, just a requirement now. He pulled out a calendar, and verified this with
the person that was in the room with him.
I asked him about the 2 million that LHSP owes Fonix. He stated that Lernout
& Hauspie does in fact owe Fonix 2 million soon. There is also 2 million in
an escrow account to be paid to Fonix on March 1, 2001 from LHSP. He stated
that on Oct 1, 2001 that LHSP would again due to pay Fonix another 2 million
if the sales from the medical portion of the company they sold to them if it
meets L&H sales expectations. I asked him if that 6 million over the next
year would be used instead of drawing down on the equity line. He assured me
that in fact that would be the case.
He stated that the shareholders meeting was being put on POWER POINT as we
spoke with a line or two on each slide explaining what each one was about. It
should be up on the website shortly. |
