Hi again, Alan.
<<What happened to the company Kern came from? It was touted in some early press release from Gumtech as a "multi-billion dollar biotech" outfit. All I've been able to find is that they went under with Kern at the helm. I know no other details.>>
Interesting. Do you mind if I butt in on this one? I presume you are referring to Meditech Pharmaceutical. I asked about this on the AOL board and never got a response either. I've appended that post here FWIW. There's also a little interesting hisory about the tech company he worked for, but I never got to the bottom of that one either. Anyway, I'd love to hear more on the question you asked as well. Note the family connections with Meditech.
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Date: Fri, Sep 5, 1997 14:00 EDT
From: FoolishPuk
Message-id: <19970905180001.OAA08504@ladder01.news.aol.com>
I've been trying to learn a little bit more about GUMM management, and I had a question that I was wondering if anyone could help me out with. First some background which I found interesting. Gerald Kern, the current Chairman, President and CEO of GUMM, was earlier President and COO of Meditech Pharmaceuticals, Inc., from 1983 to 1994. This company (MTCH) is a manufacturer of proprietary drugs. MTCH is listed on the OTC Bulletin
Board (if you don't know the difference between OTCBB and NASDAQ, check out this useful link: stockdetective.com. When I checked earlier today, the inside spread for MTCH was $.01 x $.016, a genuine penny stock, one that seems ripe for a reverse split considering its 119,016,925 shares outstanding as of 4/14/97. BTW, on 6/9/97 Kerns filed
a 144 form to sell 975,000 of MTCH.
Anyway, I was over at EDGAR checking out some of Meditech's filings, of which there is only one, a 10Q filed on 4/23/97. Beneath a comment noting that MTCH needs about $2 million without which it is uncertain whether the company may continue as a going concern, you will read the following (the capitalization is not mine):
<<MANAGEMENT LACKS SUFFICIENT INFORMATION AT THIS TIME TO DETERMINE THE EFFECT, IF ANY, OF LEGAL ACTION BY SERGEI GIVOTOVSKY AGAINST THE COMPANY, PETRO-MED INC. AND GERALD N. KERN. NO ACTION HAS BEEN TAKEN BY ANY PARTY IN THAT MATTER FOR OVER THREE YEARS. >>
Since there hasn't been any action on this for several years, I doubt there will be any in the future, but does anyone know what this was originally about? BTW, as of the filing of the 10Q, the President and active CFO of MTCH was Cynthia S. Kern. |
