Re: 3/3/01 - [IFTP] CEO Daniel Hoyng says company ready to move forward with litigation
By: stocktruth1 $$$
Reply To: None Saturday, 3 Mar 2001 at 8:58 AM EST
Post # of 280602
Longs
Isn't IFTP going to have to increase the number of authorized shares and issue more stock? They have issued all but 4,000 shares that they are authorized; and it looks like they have commitments to provide a lot more shares. Also, how are they paying for the 6 new infomercials they are currently producing? Doesn't that cost about 1 mil per infomercial? Should we expect another convertible debenture? The last one, Dec 2000, cost us 12 million shares and it was only for $600,000. I think these are legitimate concerns and hope you can clear them up. Everything below can be found in IFTP's SB-2 filed on 1/11/2001.
[Edit]
ragingbull.lycos.com
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By: IFTPONE $$$$
Reply To: 279632 by stocktruth1 $$$ Saturday, 3 Mar 2001 at 11:10 AM EST
Post # of 280601
Again people like you continue to twist facts. The Company got far more than $600,000.00 for twelve million shares. In fact a third party assumed the loan and in return for early conversion rights they invested an additional $1,000,000.00. After three weeks of preparing and consulting with every major law firm involved in litigation against "bashers" the Company is finally ready to move forward with litigation. This week the fireworks are starting; I cannot wait to expose LBJ. LBJ will have to head north when everybody sees the town he lives in Florida. We are not only confident that we will win our case, we are very hopeful we can get an injunction, which will keep the "bashers" from posting. So bash away, your “ bashing” days are limited, give it all you got, each word is just helping our case. Our team will watch with amusement the next few days as you bash way. I suggest LBJ and the rest of the “ bashers” find out what "TORT LAWS" is all about. For those "bashers" in Florida, Ma, and California it will be an extra pleasure to meet you, and the shareholders will thank you for your extra contributions to the Company when the lawsuits are settled.
ragingbull.lycos.com
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By: WillyWizardClub $$$$
Reply To: 279670 by IFTPONE $$$$ Saturday, 3 Mar 2001 at 11:42 AM EST
Post # of 280605
IFTPONE,
Interesting post. You should get some Free PR out of this. I know you will from Willy. I do have this action already featured at my web site. This is just part of the article.
"Bashers Beware: You Are Warned"
Internet libel cases are springing up frequently. These cases range from employee’s libelously attacking their own employers to traders trying to make a quick buck. Most of this is being done on Internet site's post boards provided for the general public. More and more of these types of cases will spring up as companies get tired of their reputations slandered on publicly read post boards.
Recently a start-up company with the name Infotopia, symbol IFTP has been bashed more then any company I follow. The bashing takes place on a public post board, Raging Bull. Daniel Hoyng the CEO of Infotopia had posted a few times at Raging Bull allowing posters to address him with various questions that he answered in a manner any CEO would do. The questions that were covered by Mr. Hoyng were typical responses to subliminal bashing being carried out by various individuals attacking IFTP and Mr. Hoyng personally. The answers were professionally written by Mr. Hoyng and not with the intent to hype the company nor it's share price.
These attacks against Infotopia continued at a fast pace for months. Some of the posters posted day and night with repetitious posting attacking the company, the products and the CEO. It looks like Mr. Hoyng is starting to take action like we see others have done in the past. Here is a paragraph copied from Infotopia's recent "chairman's message" section at their company web site dated February 16th, 2001.
"The Company is going forward with litigation against “bashers” on the various messages boards. We had hoped to file our first set of motions and charges this week, but our attorneys have been busy reviewing the many case files that already have been filed to determine the most successful strategy. The integrity of our Company is critical to our success. Much of what “bashers” say is protected under the first amendment; however, we feel that certain bashers have crossed the line between opinion and misinformation. It is also are belief that exposing the basher’s real names will help hold them accountable. The Company is using its in house general counsel who is on staff and is not incurring outside legal fees. As a result of the pending litigation against “bashers”, I will no longer be posting on Raging Bull, where I have posted from time to time as IFTPONE. I have our Webmaster looking into establishing a message board on our website where our Directors and Officers could interact with shareholders."
Since the above intent was announced by Mr. Hoyng posting by many individuals considered bashers at RB have dropped off dramatically or totally seized. Its is about time they had a real life scare put in front of them. They have been scaring innocent shareholders for many months so they deserve to be exposed to the fear they injected in the minds of these innocent readers.
When companies have in house general counsels they should be used to the fullest. This includes protecting the shareholders from degradation of their company which effects their investments value. Shareholders invest hard earned money and deserve to have a company act in their best interests moving forward with actions towards message board bashers. This is the fiduciary duty of every company and a CEO running these companies. In the future we should see these type of actions springing up frequently.
Also there are many legal firms that are taking the degrading of CEOs and bashing of companies very seriously. This firm, Fischman, Harvey & Dutton, P.A., 3050 Biscayne Blvd.
Suite 600, Miami, FL 33137, (305) 576-5522 bruce@fhdlaw.com has a very high rating and has been awarded, "Fischman Harvey and Dutton, P.A. and senior partner Bruce Fischman have been awarded the AV rating, the highest rating possible from Martindale-Hubbell ® Law Directory, the country's foremost legal directory."
About Fischman, Harvey & Dutton:
Fischman, Harvey & Dutton, P.A. has been providing quality representation in many areas of litigation since its founding in 1984 as Sherman & Fischman, P.A. The firm has recently been in the national spotlight for its groundbreaking work in the area of Internet defamation, and its precedent-setting work has been covered in publications around the country such as the Wall Street Journal, the Boston Globe and the Miami Herald. Bruce Fischman, the firm's senior and founding partner, is a regularly featured speaker at events such as the Fortune 500 Forum, and has written several articles on online defamation. Mr. Fischman is scheduled to be a guest panelist at Harvard Law school on October 16, 2000 on the subject of "Jane and John Doe: Freedom Fighters or Verbal Terrorists?"
The firm's high level of expertise in the area includes our unique cybertracking techniques, successful litigation against online defamers and stock bashers, and favorable settlements and other outcomes. The firm, which is one of the foremost law firms in the country in the area of online defamation, has effectively litigated this issue on behalf of numerous public companies and private individuals. Fischman Harvey and Dutton, P.A. and senior partner Bruce Fischman have been awarded the AV rating, the highest rating possible from Martindale-Hubbell ® Law Directory, the country's foremost legal directory. Source is firms.findlaw.com
This article will be updated frequently as additional information becomes available. I suggest readers check back regularly and read updates. Bashing is a serious problem on all public message boards. Look for this article to grow as I add more content. Below are just a few of the stories from various financial news sites reporting on this issue. I hope you all enjoy the reading.
You have my permission to paste this article where bashing is present. That is everywhere. Bashers should be aware things are changing and they are liable for their actions.
If you have any actions that you would like listed please email them to this author. I would be happy to incorporate them into this article. My email is willywizardclub@home.com
Thank you,
Hal Engel aka WillyWizard or Alias WillyWizardClub @ Raging Bull
Willy
ragingbull.lycos.com
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By: poland $$$
Reply To: 279670 by IFTPONE $$$$ Saturday, 3 Mar 2001 at 11:46 AM EST
Post # of 280606
This litigation against bashers is a very scary thing.
IFTPONE has not responded to some legitimate questions raised like e.g where the money comes from to pay
infomercials( 1 million dollars for each?!) and
declared war against bashers.
I do agree it is unethical and unfair to twist facts
or even make some things up but where is the boundry,
how do you descern "basher" from a poster merely sharing his doubts and offering criticism.
Jacek
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By: janice456 $$$$
Reply To: 279670 by IFTPONE $$$$ Saturday, 3 Mar 2001 at 5:28 PM EST
Post # of 280606
Who's gonna keep YOU from posting, Dan?
We are not only confident that we will win our case, we are very hopeful we can get an injunction, which will keep the "bashers" from posting.
Not long ago you said you'd stop on advice (imo very good advice) of counsel.
I cannot wait to expose LBJ. LBJ will have to head north when everybody sees the town he lives in Florida.
Once again imo, Dan, you've just made a VERY bad mistake.
And I think that perhaps YOU are the one in dire need of a lesson in tort law. It's not quite as simple as it seems, and defamation isn't always a tort. Probably you don't understand why that's important. Ask your attorneys.
ragingbull.lycos.com |
