SEXI: Mostly Fact, A Little Fiction, Not Vicious Attacks Message Board

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Microcap & Penny Stocks : SEXI: Mostly Fact, A Little Fiction, Not Vicious Attacks

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To: Amjad who wrote (5642)	10/29/1996 3:59:00 PM
From: Mr. Aloha	of 13351

This is my gut feeling on what MIGHT HAVE happened with the SEC.... On October 7, 1996, the SEC temporarily suspended trading in the Company's securities. The Commission release stated: "The Commission ordered this trading suspension because of questions raised as to the adequacy and accuracy of publicly-disseminated information concerning, among other things: (1) SOE's reported financial condition; (2) the existence and value of services rendered to SOE in exchange for stock issued by SOE; (3) whether stock was issued by SOE to consultants without registration; (4) the reasons for changes in SOE's independent accountants; and (5) SOE's sales of its video teleconferencing products. The Commission determined that the public interest and the protection of investors requires a suspension of trading in SOE securities." The Company's current management has not yet been able to satisfy itself as to these issues. Mr. Walther stressed that the trading suspension in the Company's securities should continue until more accurate and complete disclosure has been made to the SEC and other self regulatory organizations. Mr. Walther further stated that to the best of his knowledge the Chairman of the Company has taken an administrative leave of absence. SOURCE SYSTEMS of Excellence, Inc. ------ I've read this a few times and it sounds like Huttoe wasn't around for awhile and no one really knew where he was. It's possible that Walther and Huttoe had an argument and Walther called in the SEC. It's VERY UNUSUAL for a company to report that "they haven't satisfied themselves of their own financial etc... position?" To me, this sounds like Huttoe was out of control and left and Walther called in the SEC to halt the stop and investigate. Mr. Walther may have wanted to save face and the company rather than have the shorts tear it apart. It is a VERY STRANGE PRESS RELEASE? Then the SEC says nothing, usually they would say "SEXI will continue to be halted pending additional review etc...". We have nothing and then the pink sheets start. How could Huttoe be so stupid as to lie (if he did) about large revenue for fiscal '97 and where are approx. 30-40 million shares? What are those S-8's. Did Huttoe and others sell $54 million? to the market over the last few months? What are those S-8 executive options for? What was he thinking filing those? Aloha

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