Sal, my e-mail address is well known. Nobody is stopping you from sending me your thoughts.
I think also you are under a misapprehension about my role. Let me be clear:
[1] I am a shareholder in CCEE with a mammoth sized investment.
[2] I believe that I will earn a profit when the results of the dbExpress project and the growth of Softworks are officially confirmed. When that happens, I intend to sell some of my shares and keep others.
Of course if I determine along the way that my beliefs were induced by false statements or fraudulent conduct, I would be more than annoyed and my plan would change accordingly. But as of today, I have not seem any statements that come close to meeting the standard imposed by the law for an action based on fraud, nor have I seen anyone hype the stock illegally. I know what the cases require, and at most I have seen brokers who wanted their clients to feel good about owning CCEE who passed on every bit of good news they learned from the pipeline; I have seen CCEE be too optimistic in expecting other companies that expressed an interest in CCEE's products to drop everything and to begin to concentrate on working with CCEE; and I have seen CCEE therefore issue announcements that were the product of an unsophisticated and even immature assessment of how likely those deals were to produce revenue.
In short, I am not one who TODAY at least thinks that something evil or illegal has occurred, or that a band of pirates posing as market makers are foisting on the investment public a scheme to manipulate the stock to set peaks and valleys.
In fact, I think anyone who believes such nonsense is a bona fide idiot.
[3] Because I believe that the numbers are good enough to cause a nice rise in the price of CCEE's stock, all things being equal, I want that increase to reach its maximum potential. Looking at the leadership of CCEE convinces me that at the very top, we have unqualified under achievers, and that it is not a valid business judgement on the part of the board of directors nor is it one the board could ever rationally justify, to continue to place the future of CCEE in current management's hands.
Before the new developments, including the British Telcom/dbExpress connection, the acceptance in the market of Softwork's products and the progress reportedly made by the Garbe group, it really did not matter to me who was running this company. CCEE was simply a potential turn-around stock that needed to lay a foundation.
But now that the foundation is said to have been put in place, it is no longer tolerable to have amateurs running this company, just as it is no longer tolerable to give a founder a lucrative sinecure just for old times sake. Therefore I see that it is time for me as a shareholder to utilize the legal steps to communicate with the board of directors that is supposed to watch out for the interests of CCEE
[4] I do not purport to represent you or any other shareholder as a lawyer.
In fact, the law makes it almost impossible for a one who is both a shareholder and a lawyer to be the lawyer for other shareholders. I REPRESENT MYSELF ONLY--
But to the extent that any other shareholder agrees with me that this company has great prospects that would be materially enhanced if the top management was replaced immediately, and that there are solid reasons for asking the board to take that action, I welcome their input and affiliation.
[5] No shareholder is required to wait for me, to join in my efforts or to listen to my views.
YOU ARE FREE TO SEND YOUR OWN DEMAND LETTER TO THE BOARD.
By the same token, I am under no obligation to affiliate with you, or anyone else in what I do.
In your case Sal, I really do not think you and I share much in common. I am not one who sees conspiracies at every turn, nor have I launched an irresponsible public attack on the company in general.
On the contrary, I believe the company is pretty good--it is just that its top management no longer can coast on the backs of the shareholders and those at CCEE who have made it an exciting turn-around candidate. You however, seem to more attuned to your friend. You and he seem to be involved with CCEE for fun or to manufacture a place where you can practice on your keyboard.
I am in CCEE to make money. If I speak up here on SI, it is only to protect my investment. If Iwould sell my stock, you would never hear from me. (On the other hand, if I am cheated, I will take appropriate action.)
But in no case am I in CCEE to kibitz or use it as a substitute for a real life.
[6] You do not seem to understand that in making this shareholders' effort to get he board of directors to act, discretion, wisdom and insight are the critical elements.
I do not want to create a panic, turn the shareholders into enemies of CCEE or scare away customers, bankers or strategic partners. I want the company to improve, but if the choice was that it improve the way I dictated or else go out of business fighting me, I would back off--EXCEPT IF I EVER LEARNED THAT I WAS CHEATED (as mentioned above).
You urge that the whole thing be done in a manner that you call PUBLIC --on this message board or elsewhere on the internet. That makes no sense to me. As I said there are idiots and sick people out there who are not rational and who do not have the same CCEE goals in mind as I do. Why in the world would I want to invite them in to MY GROUP? They are free to form THEIR OWN GROUP.
Take you for instance Sal. The other shareholders on SI who maintain an e-mail discussion group elected to exclude you and to bar you from participating in their discussions. But that did not stop you from nonetheless finding one person of your own ilk and level who is willing to converse with you.
WHY NOT SEND YOUR OWN LETTER TO THE BOARD ON BEHALF OF YOU AND YOUR BUDDY?
You certainly need not waste any time waiting for me or those who rejected you from their e-mail discussion group.
[7] I have been pleasantly overwhelmed with the substantial positive response my prior messages created. My e-mail in-box fills every hour with messages of support and alignment of interests from other shareholders who have expressed their agreement with my central theme, which is simply, THE COMPANY LOOKS GOOD--IT WOULD LOOK BETTER ONCE THE BOARD DID ITS DUTY OF PUTTING IN ONLY QUALIFIED PRODUCTIVE OFFICERS TO RUN AND REPRESENT CCEE.
In short, the time is ripe for there to be a change in management. The company will do better and the stock price will leap up much higher with new people at the top. I personally want to take action while it is possible to exploit the opportunity of the turn-around and perhaps parlay it with such a change. I recognize the law makes it extremely difficult for shareholders to force management's hand. That is why I called for other shareholders to join me, on the theory that there is strength in numbers.
Sal, while I do not consider you either a friend nor one I want to tie my lot with in this project, if you want to have your views known, feel free to send an e-mail to me. If what you say has value, I will pass them on to the others who have written to me.
I also welcome input and endorsements from any other shareholders; I also will not mourn if some shareholders think this project is not their cup of tea.
Gary Green
Sidkoff, Pincus & Green P.C.
Attorneys At Law.
2700 ARAMARK Tower
1101 Market Street
Philadelphia, Pa. 19107
phone: (215) 574-0600
fax: (215) 574-0310
personal e-mail: gary-green@usa.net
law firm e-mail: S.P.G@worldnet.att.net |
