Mr. Wes,
I agree with a portion of your statements. The problem with this
company is management doesn't have any loyalties to anyone. That
is most obvious. They don't seem to care about the shareholders
or they would have made an effort to file the 10-K and Q in a timely
manner. The delinquency, according to Mr. Dan L. is two year's. I
don't care what excuses they make, in my opinion there isn't anything
that could substantiate two year's. As for Lanza selling stock? It
could have been over a year ago, a month ago or a week ago. In my
opinion, it doesn't really matter. You ask why? If I were him,
I would have walked along time ago. Imagine being a consultant to
a company knowing that management has a lazy attitude about getting
important filings filed on time. It would be very difficult for me
to get up in the morning, go into my office and work in an optimistic
manner. To me, it would have been much easier to hand in my letter
of resignation and accept a consulting position with a company who
had management that was more efficient and much more productive. It
would be frustrating to consult a company knowing the potential that
was in the making and then, witness it going no where. Not only
that, I can't imagine how Mr. Lanza felt knowing he brought a fabulous
deal to the table and then see it being turned down. If I were
in his position, I think I would come to the conclusion that I was
in a no win situation. He can't win with the shareholders and he
can't win with management. But I have to say, knowing Joe Lanza
like I have come to know him, he is resilient and will come out on
top of this. Yes, I am loyal member until someone can prove
otherwise, I'm optimistic and feel he isn't steering us wrong.
You can't help but like the guy. Like my wife says, he has a way of growing on you and he sometimes brightens her day.
Mr. Wes, you have stated that Joe Vigliarolo hasn't spoken on this
bulletin board or thread which I notice many reference it as. I
on one hand understand why Mr. Vigliarolo hasn't made any statements.
Yet, Mr. Wes, if he is worried that his comments maybe misconstrued,
why hasn't he made a press release or sent the shareholders a letter?
Would a letter take a great deal of time to send out? No, it would
not! How long has it been since you have received any correspondence from this company? The only thing shareholders ever receive is a press release that seems to be a "buy some more time" letter. I for one believe that the 10-K hasn't been filed because of Mr. Lanza. Like I told you before, the filing could have been made with a disclosure to Mr. Lanza IF THAT IS THE REAL REASON. I also phoned my CPA this evening, he told me that a 10-K could have been filed no matter what Mr. Lanza's position is. He said a disclosure would have been sufficient and that Mr. Lanza would not benefit in anyway by not
filing a 10-K. I told him that Mr. Lanza is suppose to be holding
notes on money that was loaned by either his company or his son Mario.
My CPA said that no matter what the situation is, the 10-K still
could have been filed with a disclosure statement and it would not
have any bearing on Mr. Lanza's current position with Airstar
Technologies. He stated, if the company is blaming Mr. Lanza for not
being able to file the 10-K, then someone is trying to conceal the
real reason for the absence of the filing. In addition, he stated
with all the uproar that is being posted on Silicon Investor, he
felt it was reckless on Mr. Vigliarolo's part not to have made some
kind of statement or correspondence to the shareholders on why it was
being delayed. If it has been delinquent for two years, my CPA stated
that he certainly should not be in the position of President and/or
Officer of a public company. He felt Mr. Vigliarolo was of great hindrance to Airstar Technolgies for allowing this situation to take
place. Knowing my CPA as well as I do, I believe what he had to say.
Have a good evening,
Dr. Milton Schmidtz
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