***¶***REPORT on McHand-in-Till-Bride....
Posted by: Francois+Goelo
Date: 8/19/2001 4:16:09 AM (ET)
Post # of 11270
***¶***REPORT on McHand-in-Till-Bride....
The Attorney needs a picture of the Funds that "Hand-in-Till" McBride has PILFERED from SEVU's Coffer, in order to calculate the Interest Bill he's going to have to pay, to help make the PP REDUNDANT...
Period March00 June00 Sept00 Dec00 March01 June01 SEVU Cash $418K $674K $202K $41K $4K $129KPILFERED $1,146K $469K $491K $513K $318K $325K
Hand-in-Till Pilfered more Interest Free Money for his personal use than was left in SEVU's Cash account for 5 out of 6 Quarters... Over the March 2000 Quarter, he appropriated close to half the original PP money to allegedly buy Condos, Yachts, Planes, what-have-you..., leaving about a third of that in SEVU's Cash account...
Over 6 Quarters, he Pilfered an average of $544K, leaving ONLY an average of $245K in SEVU's Cash Kitty... In other words, on average, over 2/3 of SEVU's Cash was in Hand-in-Till McBride Pocket during this 6 Quarters Period, earning him interest and DEPRIVING SEVU shareholders...
IMO, this is Tantamount to systematic Theft, by robbing interests due SEVU and we plan to present McBride with a compounded Interest Bill of close to $100,000...
He said it was normal for Officers to do that?... Perhaps, for short periods, paying interest and using less than 10% of a Company's Cash... I predict that the Judge will be very unhappy with Hand-in-Till's Blatant disregard for the interests of shareholders and that the case will go from Bad to Worse for him, thereafter... In my View, Hand-in-Till has GRAVELY harmed the interests of SEVU shareholders and is solely responsible for the current state of affairs... In other words, he should be LIABLE all the way...
Just My Honest Opinion,
F. Goelo + + +
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