Fly by night but not especially good at what they do ...
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In 1996, the Company sold a portion (200,000 of the 1,600,000
shares) of its International Semiconductor Corp. investment, for
approximately $499,000, net of expenses, and transferred an
additional 45,000 shares of this stock to two note holders in
liquidation of their claims against the Company of $22,500. The
Company retains 1,355,000 shares, although the market value of
the holdings has diminished considerably since the summer of
1996.
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Craig
while I read the sec form I couldn't help thinking that these guys could have made a lot more money if they had tried to be successful instead of the mish-mash buying and selling of companies they have been involved in. A number of their companies are in the red and they seem to have no reliable income from quarter to quarter. They still have 1.355.000 shares of ISSM and they are now practically worthless... Sure they netted almost 500,000 usd on issm before but it seems it would have been better in the long run to make this one a winner... And then if they were really out to scam the shareholders, they could have sold a lot more of it when the stock was higher, couldn't they have ?
Their investment in Florida is down to zero and they are in court with their business partner and the oil production isnt fantastic either ... So what are they up to anyway?
sg |
