Firstly, it is regrettable that I was portrayed as an attorney, I am not. But I have been in the investment business for a lot of years, and I believe that we know what we are doing.
Aside from the cynical comments about paying the attorneys _ WHICH WE are doing out of our pockets, including the much appreciated contributions from other shareholders - Let me tell you what the attorneys have accomplished.
The effort by the people responsible for placing IMES in bankruptcy - and I certainly don't refer to the directors - has been to strip all the assets from IMES on an unusually fast track and leave nothing. The alleged C.E.O. (the word is 'assumed' in the Press Release - and that is what he did - he certainly wasn't voted in by the board) of IMES was at yesterday's court hearing, and the fast track demands by IPIQ to steal your assets, people, were partailly struck down. You were represented by counsel, and he was partially successful. We have until about 1 April to do something about this. Hoevel indicated that he "would be more than pleased to meet with alternate funding agents", and with a little luck that's what is going to happen. The result should provide a considerably enhanced position for the shareholders. We'll see.
As a result of a filing by the U.S. Trustee and the S.E.C. - yes Tralornik - the S.E.C. having taken a considerable interest in the methodology of the people involved, and I would venture to suggest that there is at least one other alphabet style agency about to do some serious digging. Even the judge has indicated that he wants the principals of IPIQ to review their personal positions regarding this bankruptcy. You know - directors of the firm they're pillaging - LESS than 2 WEEKS BEFORE they precipitate the bankruptcy. Their answers to the judge and the other interested agencies should bear careful - and amused scrutiny.
I don't know how much your investment was, Tralornik, and it really isn't any of my business, but it's all relative. In my book words, particularly the cynical variety that you use, are pretty cheap. It's results that we're looking for here, whether it's for 100 shares or for 1mm. That goes equally for the attorneys' fees, if talk isn't all that you're made of.
Finally you're position regarding the voting blocks of shares is uninformed, if anyone is particularly surprised. |
