Nhaynes:
As we are proud of our role in stopping NVID's band of thieves from more stealing, following is a brief chronology of events refuting the theory that we only presented information that was already known:
1. December 1995: We became aware of NVID and their supposed product at that time, liquid purification equipment. Over the next several months we had numerous conversations with Bunte, Klenovic and Arata, and reviewed whatever materials were available to us. The more we researched, the more suspect we became. The more suspicious, the more we researched. We uncovered Klenovic's, Bunte's and Arata's less than admiral past business dealings as well as Arata's felony record. We uncovered a company generating no revenue, but forecasting millions almost immediately, etc.
2. October 1996: I visited with the SEC authorities in Chicago and discussed my findings and suspicions. Although they were moderately interested because they knew of Klenovic's past business associations, I was unable to provide them with substantial proof of wrongdoing. Many of my conclusions were business rather than legal.
3. October through November 1996: We continued to research and develop as much information as possible. In early December, we considered again visiting the SEC, but decided instead to go public with what we knew and let those interested draw their own conclusions.
4. December 8, 9 and 10, posts 360, 405 and 447: We presented our findings to the best of our ability.
5. Early 1997: The Florida Comptroller's office, Division of Securities, began to follow the events and conduct their own investigation. After they confirmed many of our suspicions and allegations, they sought involvement of Federal authorities.
We think you know the rest of the story.
Derek |
