Really not much to answer....
Pardon the delay...purposely left my laptop
at home while away for a few days.
RIMC, Affinity and Tigi were suppose to coordinate
all of their releases as was conveyed to me.
Despite what was suppose to occur
the initial Friday, RIMC PR was released without coordination
but supposedly with the consent of Harrington.
Then Affintiy/Tigi/RIMC made their 11/27 announcement
saying the deal was going forward, because
everyone supposedly still was on board at the
time of that release.
However, what had been happening again according to PH,
was that the counsel in CA for RIMC and also a director
wasn't as interested in the deal all along and with
a group of RIMC shareholders had been seeking to get
financing for RIMC apart from what TIGI would get them.
Thus the same afternoon after that same morning 11/30 which TIGI and
its officers conferred with Harrington about closing the
deal the next Monday, "...Legal counsel for
Reliant notified TSIG that Reliant...will not proceed..."
When I spoke with PH that afternoon after the releases
asking what the fruck is going on, Paul said that TIGI's
officer's were trying to get in touch again with Harrington
who was at QVC in PA and not available until that evening
to confer with...so he himself didn't know what was going on..
He said to accept what was written as fact, but couldn't
confirm that things may not change again since Harrington
again that morning had given him a very different impression
of where everyone stood.
Again PR's of RIMC were suppose to be coordinated with
TIGI, and becuase this PR was issued by the "legal counsel",
such coordination did not occur. PH was under the impression
that Harrington didn't know about the release since
the quote of Harrington's cited in RIMC's PR was
supposedly taken out of context. W/o being able
to speak with harrington, and being led to believe
what he was led to believe per that morning's conversation
amongst all parties, Paul sincerely believed that the
CA attorney acted on his own. Since I haven't talked
to PH after 11/30, I don't know if his initial beliefs and
impressions were correct or incorrect.
Paul didn't tell me anything different materially from
any other shareholder. He just gave me some of the details.
He also said the business relationship was still in effect
and that all this really came down to was how certain
investors and the esquire wished to obtain financing.
Regardless the 12/1 release confirmed that RIMC
acquisition was off while also affirming that the business
relationship was still very much intact.
Somehow its seems in the rush to get a response
to RIMC's poorly timed and worded PR, some
coordination also didn't seemingly occur betw. TIGI
and RIMC until after TIGI's response was issued.
Thus since all companies are still business partners,
it would appear that TIGI felt the need to "clarify"
some statements in their 12/06 response so as not
to offend RIMC, which is still giving Affinity and GS
data mining work, teleservice work, and web traffic.
I further assume that RIMC made TIGI aware of the mistakes
in the prior 12/01 release.
Anyway, I actually found the whole ordeal and spin control
refreshingly forthright as an effort to keep investors more
informed of what had occurred and hopefully is indicative
of the new management's desire to keep the shareholder's
better attuned in general.
z |
