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Strategies & Market Trends : Shorting stocks: High fliers
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To: Q. who wrote (423)12/10/1997 10:07:00 PM
From: Geigartt  Read Replies (2) of 709
 
Re Inventor of thermal imaging: Those descriptions sound very similar to the description HumnaScan uses in their report, although they throw in some temperatures to make it sound technical. From some earlier post maybe on MF, I seem to remember the inventor as a Dr. Sagi. The Annual Report credits Dr. Sagi, (no first names here) as Chairman of the Bd of Scantek. His son, Zsigmond G. Sagi, is CEO and a principal of Zigmed, who was contracted to build the production line for HumaScan.

Further to my question previously of when do they run out of money: Actually they could be making money now from penalties. The delivery date (for completion of the production line was 3/31/97. "Zsigmond Sagi [he must be the only person at Zsigmed since he is named personally at the payee - just Ziggy and his wrenches] has agreed to pay the Company damages of $100,000 per month for three months commencing at the end of the fourth month following the Delivery Date if Zigmed is unable to deliver the Production Line by the Delivery Date." If Zigmed completed on time, then what is keeping them from shipping the product? Oh, I forgot, the tests, any announcement about tests?? If Zigmed did not complete, payments should have started July 31 and be reflected on the 3rd Q report. Anybody see it?

There are further payments due HumaScan by Scantek if the Production Line is not accepted by HumaScan. Why would the licensor be responsible for the possible unacceptablility of the Production Line which is being constructed [fabricated I believe is the correct term] by Zigmed??

I would bet no lawyer wrote these agreements? They are either very poorly written [fabricated?] or nonsense.
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