**Response from Joe Lanza**
Wes,
Where are you at? When you figure market value, they look at it fully diluted. Meaning, all of the A, B, C, and D stock. As you know, Mr. Vigliarolo demanded that the A be converted there by knocking off 11% interest on the Company. The A-C is still restricted. There has been no new shares issued by the company, and so far your response is out of line! As far as the 10Q, you were mailed on after Joe V. thought it had been posted. It should be showing now. As far as Truher goes, I found out Friday that he got the resrtiction lifted on 480,000 shares. I think Truher needs cash, and I think that he is trying to make myself and Management look bad by slaming the market. He may think that he has a chance to weasel his way into the company again. He doesn't care about the shareholders, and that is why he isn't with the company.
So, to some up:
1. 20 Million fully diluted, has been the number of shares outstanding for well over a year.
2. Joe V. wants all prefered converted to cut the expense to the company down. Probably save 500,000+ a year.
3. Wes, the 10Q should have no suprises, as you already have seen it.
4. We found out about Truher on Friday, and posted it within one hour. 480,000 shares were freed up through 144K.
Thats it. I still don't see anything wrong with the company. If Truher and former management want to hurt the company, fine, just understand who the bad guys are.
Joe Lanza
P.S.
Converting the prefered doesn't hurt the company, because the stock is still restricted and it cuts down the companies expenses. |
