Brett, I know you're new to this SI thing, but no name calling! Do like Leroy does. We tug back and forth but we respect each other's viewpoint.
I was a shareholder from December 1993 until August 27, 1997 (sold at $0.09). My knowledge of the company's affairs comes after I considered a lawsuit against Wilfred Shaw et al in federal court. I never carried it through though because there was ultimately no jurisdiction in the US, the company had no tangible assets, and I had a dubious cause of action. Besides, unless I could've certified a class action, the cost of recovery would have been too high.
"Sour grapes?" you bet! Everything was in my IRA account.
I had looked for this thread when I first signed up (October 1997), but since it didn't exist then I never hit it. Also, I was using the old name. When I finally stumbled across it, I was more than just a little bit surprised to see ol' girl puttin' out once more! I subsequently pulled the company's PRs off of Yahoo and did some further diggin'. I think you can tell all this by the substance of my first post:
www3.techstocks.com
Over 50 press releases from the company (since it reincarnated itself early in 1993) are available on Canada Stockwatch (http://www.canada-stockwatch.com/indexo.htm). Every statement I've made is cooberated by these records, others I've received from the company over the years (including copies of its first and second 15c-211s), and on-line vehicles like Lexis/Nexis and ABI Inform.
For example, you state:
"I know for a fact that MIS purchased the trademarks from one of the founders of MIS and Joe Sings statements are made up hogwash....MIS was not about to pay someone hundreds of thousands of dollars they were not obliged to pay legally or morally"
Well, the "facts" are a matter of public record:
"MIS Multimedia Interactive Services Inc
MIS
Shares issued 6675743
1996-02-28 close $0.64
Thursday Feb 29 1996
Mr Herdev Rayat reports:
The company has entered into a letter of intent to acquire the North American franchise marketing rights to the Wheel To Wheel Discount Parts franchise system for $65,000. The purchase price represents the total development costs related to the franchise system since its inception four years ago. Founded and developed by Mr. Copley, the Wheel To Wheel franchise concept merchandises recycled automotive parts, as well as providing a full range of auto and truck repair services. The acquisition will be marketed in conjunction with the company's RADD Multimedia store system using the same media, franchise shows and sales personnel."
Shortly after this announcement I phoned the company and they invited me to phone Mr. Copley and ask him questions about his business. I did precisely this in the Fall of 1996 (rough timing). Mr. Copley is not a "founder" of MIS; he's just a mechanic and small business owner. I found out later that the company subsequently renegged on its agreement with him!
Likewise, none of the past principals (everyone mentioned in the press releases and annual reports) of MIS has ever been the subject of a disciplinary hearing by the BCSC -- including Wilfred Shaw. Don't believe me? Email them yourself and ask. I thought of that long ago. Here's the location:
ftp.bcse.gov.bc.ca
I could similarly counter every other point you make, but I'm afraid of what you'll then accuse me of. Your sources are erroneous, Brett.
I'm not harboring a secret agenda. I've posted criticisms of other company's dealings elsewhere. People can research my statements about this company, see if they're correct, and draw their own conclusions. That's the beauty of this media.
All I've done is challenge the wisdom and accuracy of some of the company's actions and statements. These are not "nasty things." Why is this such a threat to you? You should be thanking me for saving you from my misfortune.
If you find this kind of naysaying a disservice to the spirit of the SI "string" then I will leave this thread (First Amendment be damned!). Then, the less skeptical can have this forum all to themselves and post whatever sort of self-congratulatory stuff they want. But would that deliver a product worth paying for? Hmmm. |
