Hello Atty Green,
Just wanted to let you know that I had a 20 minute conversation today with Gary Kolesar whom is now the VP of Investor Relations, has been with the company for more than 9 years, and had also held the CFO position of CCEE. When I called CCEE, I asked for DelGiorno, JR or SR. , the secretary stated that they may be in a meeting, was on hold for about 3minutes at which time Mr. Kolesar took the call. As addressed our concerns with Mr. Kolesar, pointing out that the stock has plummeted from about $10 per share to 3/8, during the last 9yrs and that there are alot of investors that have been hurt badly from CCEE"S share value. I also pointed out the high salaries and bonuses paid for inferior work. To make a long story short
even with Mr. Kolesar's enthusiasm and all the future big deals on the horizon I am still uncomfortable with JR., and SR. running the company unless what Kolesar predicts comes to pass with-in the next 30-60days. Apparently, there new consultant Mr. Cavanio, will turn the company around with his expertise and connections. Mr., Kolesar stated that the 4th quarter will be profitable and SOFT WORKS alone should push the stock over $1.00 thus avoiding DELISTING although Kolesar stated that a reverse split would kick in
if necessary if the stock did not meet NASDAQ requirements. Mr. Kolestar is for the reverse split as according to him would attract institutional investors needed to increase share prices. Reverse splits 9 times out of 10 usually have the opposite effect. I asked Mr. Kolestar to respond to our concerns on SI, he stated is unable to do so because of potential law-suits. He stated 2 suits against the company were settled out of court recently with out admitting any quilt. Delisting will occur about May 13, 1998 if the company still can not get the job done. I say that we we give JR and SR until that date,
if they still can't get the job done after 10 years of trying let's get em out
and replace ASAP just as you would do in any other company including, football, baseball, basketball, etc etc etc.
|
