IMES Message Board - Msg: 4192101

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To: Thos who wrote (1645)	4/24/1998 10:17:00 AM
From: Larry Huang	of 1901

Thomas, Was it disclosed when and how Cadence paid the $500K to IMS? Prior to my departure at the end of January (and perhaps one of many reasons to leave), I was told IMS received an amount that was a sub-fraction of the disclosed $500K payment. Was some of the payment "pocketed" somewhere? Or did more of the payment come during the month of February when IMS supposedly faced a "cash-shortage" that led to the $135K loan (and subsequent default) from IPIQ in the mid February time frame? There appears to be a series of discontinuities in the events leading to the current situation. Has a cash-flow time line been presented to the trustees or an independent audit of the books been performed? Cadence's additional $730K unsecured position may be due to unpaid software licences though that seems unusual since those licenses were provided to IMS for designing the Meta 6000 by a development partner. Perhaps someone loaded up the grocery cabinets and closets prior to the filing. More "seasoned businessmen" strategies to learn in Business 101, huh? Larry

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