Ted,
>>I'm curious as to what else the Proxy has to offer<<
I don't think you are going to want to read yours!
A few things that caught my eye:
(1) Richard's salary went from $160,000 in 1999 to $240,000 in 2000!
(2) Deborah Schum whom by the way is no longer employed salary went from $83,333 in 1999 to $130,000 in 2000!
(3) Judith Vitale's salary went from $110,000 in 1999 to $138,000 in 2000!
(4) Quote from page 36 of the Form 10-K "On April 5, 2001, the company liquidated its $1,500,000 US Treasury bill and paid off the related $1,500,000 line of credit." Could they have made money on this by playing the interest futures? With rates dropping they should show a gain here even though IMO was a very stupid thing to do in the first place. I doubt they will come out ahead since they were paying prime rates on the loan itself. By not using the lines of credit to run the business tells me they were tied to their T-Bill and CD! If they were why in the hell go to the trouble to get them and use them as they did!
(5) Quote from page 36 of the Form 10-K "On April 16, 2001, the company liquidated its $700,000 certificate of deposit and paid off the related $700,000 promissory note."
Do you want to hear anymore?
Hank
P.S.-The reason some of us received our report sooner than others is if one holds the stock certificate as to having it held in a brokerage account you will get it first.
One more interesting note, take notice of the nice binding they have on the reports! IMO this is very telling for all others I have receive such as this have never amounted to anything and most have just disappeared! To give you a hint they used a thing that is also the name of an office super store! Don't get me wrong I think all reports should be just like the one FSTW sent out for all companies would save money, but they are not sent out like that so it's a telling story as to what we have ownership in! |
