None of you have ever looked at ACRI's reports nor do you consider corporate governance issues. Frauds are created typically when a few officers control all the strings. You'll notice all their investments have cross management in the Treasury and CEO functions. That's a no-no. Further, you don't need 30 people for your Boards (all of you are really showing your rookie status, geez) you should have at least 2 non-executive directors, if not more, on any Board.
As for the wonder investment of Merkwerks --here's the math for you all since you don't seem to know where to look or how to figure it out.
1. Sep 1995 - Buy 2mil shares at $.05 - value: $100,000
2. Dec 1995 - Sell 600,000 shrs at $1.00 -value:$2,000,000
3. Jan 1998 - Buy 401,359 shrs at $1.50 - value:$3,000,000
Pretty amazing little company they have on their hands,huh? Who's the greater fool in those transactions? For a company (Merkwerk) with no product, no revenue, debt up the wazoo, tell me how it could have increased in value by 20x in 3 months! I guess you could ask Mr. Stewart since he is both Chairman of Acacia and Treasurer of Merkwerks. Pretty amazing, I'd like to ask him how it feels to screw oneself up the tokis and be happy about it all at the same time!
There's plenty more where that comes from. Seeing how the Yahoo Acacia thread is rather basic in their understanding of governance, finances and the insider sales by Mr. Lee and Mr. Schmidt --their key intellectual guiding lights -- I guess we should assume none of you have ever looked at their records. |
