Of course if one were to go back and read the press releases, one might find that Mr. Walther was hired on 4/8/96, well after Mr. Huttoe issued all those shares to his "cronies". I suppose you can blame him for that, but it doesn't really add up in my book. Again, look at the Statement of Shareholder's Equity on the 10-Q. 26 million shares issued for services between 2/28/95 and 2/28/96. Mr. Huttoe was solely responsible for those.
Mr. Huttoe ran the financial side of the business, which is why I assume that the SEC is coming down so hard on him, and him alone. To me the press release says Walther and the SEC have reached an understanding, and if Walther had anything to do with this, his butt would be out the door also. Please give up the "Huttoe is on the run" scenario. It might make for a good movie, but he's out of SEXI, and won't be heard from again. Fired, removed, kicked out, forced to step aside. Call it what you want.
Go ahead and file the lawsuits. You're wasting your time. What do you expect to get in return? Of course, if you do file them you'll make sure the company never makes it. Does the word "counterproductive" come to mind? If this company has a shot of succeeding it seems odd that people who own shares would try and bring it down. I thought that was the job of the shorts (or Huttoe's).
Just a suggestion (so don't crucify me), but why not wait and see what Walther can do? He already has made a statement saying you're going to get truthful financials, has told you that Huttoe is gone, and apparently has cooperated fully with the SEC. If things were going badly with the SEC, that release would have never come out yesterday. Just my opinion, but I think things are on the right track. Of course, I still think these deals are going to come to fruition. Then again, maybe I'm just the village idiot for thinking this.
Just some thoughts from a fellow investor. |
