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Microcap & Penny Stocks : AMERICAN BIOMED, Minimally Invasive Technology (ABMI)
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To: CHIPNHOLE who wrote (937)5/29/1998 5:28:00 PM
From: Dr. David P. Summers  Read Replies (4) of 2887
 
You are right to ask, Chip. Why would I sell so many shares? The answer is: 1. I was cut off by Rash's broken contract with me to continue to pay me a consulting fee for minimum three days a month, so having no other income than what I could raise by selling some of my founders stock, I began by selling 100,000 shares in June 1996. 2. I also started a new venture which required considerable start-up cash.
3. Rash left me holding the bag on a considerable amount of debt that I had put out for that company, such as a large American Express bill on my personal account, other credit cards, and bills such a legal fees that I had guaranteed or accepted personal responsibility for, and of course, he cancelled my hospitalization, life insurance, etc which he had previously agreed to continue under our contract.

That was starters.

Dave
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