SEXI: Mostly Fact, A Little Fiction, Not Vicious Attacks Message Board

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Microcap & Penny Stocks : SEXI: Mostly Fact, A Little Fiction, Not Vicious Attacks

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To: Mr. Aloha who wrote (12572)	1/31/1998 10:19:00 AM
From: Charlotte	Read Replies (1) of 13351

Good morning all, I have been asked to forward a message from Mike K. It goes as follows: The attorney for the bankruptcy trustee and I spoke today. There will be a deposition by Tom Clines February 6. The SEC successfully fended off an attempt by the bankruptcy trustee to take the money frozen by the SEC. Please bear in mind that there is a legal argument about just who the money belongs to.....the shareholders or the creditors. Generally, the creditors get paid first. But there appear to be many claims by creditors which seem unjustified. I will be working with the bankruptcy trustee to attempt to refute claims which I believe to be without merit. Also bear in mind tht if the SEC retains the money, they will deduct their mounting investigative costs prior to making any distribution to shareholders. Whether a legal firm or the SEC administer any payments to shareholders, it is very likely that a rather large portion will be deducted off the top. The bankruptcy trustee is also looking to retrieve monies disbursed within 90 days preceeding the bankruptcy as some of these are to be deemed "preference payments". It is also very likely that the Trustee will also be seeking additionas relief from certain individuals who they deem owe money to the company. If anyone would like to assist me in my efforts, please post it on the SEXI thread or E-Mail me. Thanks Keep the prayers coming for Scott. We appear to be making a difference. My best to all, Mike Kugler (From Me) Mike's E-Mail address is mkugler@ibm.net for those of you who don't know it and wish to contact him. I'm sure he would appreciate any assistance you might give. We owe him a debt of gratitude for taking on this 'project' on behalf of all of us. Please keep prayers coming for Scott. Best to all, Charlotte

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