Ed
This stock has it all, a REVERSE MERGER where the parent company gives up control for months to a company that doesn't hold a stockholders meeting, has complete control of the stock and check book.
Publishes an investors perspectus stating in writing that they have purchased the patent and world rights to a new and exciting chemical process trade marked as DF-144.
Publishes multiple releases only to have them clarify multiple times.
Allegedly Accuses the CEO (Fisher) of fraud and theft
Reorganizes with the old COO Spriggs now in charge and DF-144 safely in the hands of MIDL.
Then replaces the newly installed CEO Spriggs, so that they can go after the ex CEO (Fisher) For allegedly misappropreating funds and or stocks.
But stays in "friendly" negotiations with John Spriggs for the construction of the DF-144 plant upon which John Spriggs' has already agreed to cancel his 50,000 Preferred Series "B" stock thus reducing the total dilution 7,500,000 common shares. Also the company is in continuing acquisition negotiations and possible joint ventures with other corporations with audited assets and revenues.
Then we get Gary Swancey, Private Investor who for reasons completely beyond my comprehension has agreed to suffer the slings and arrows of the thousands of SI posters whom have lost their hard earn cash to this possible SCAM. JUST MY OPINION AS A PRIVATE INVESTOR.
Investor Relations will be handled out of Atlanta by private investor Gary Swancey who has offered his services free of charge. The Board of Directors feels it is in the best interest of the shareholders to accept Mr. Swancey's gracious offer to assist the company during this transition. Mr. Swancey has been in communication with the company almost daily since he became a private investor in October of 1997. He is extremely knowledgeable through his own personal due diligence of the company's history and stock structure.
As more corporate matters conclude we shall keep our shareholders informed in a timely matter in the form of news releases.
Safe Harbor Act Disclaimer: This release may contain forward-looking statements that involve risks and uncertainties including, without
CONTACT: Midland Inc. Investor Relations
Gary Swancey, 770/389-5645
Now today I return to work and find another Interesting piece of the MIDL/ARCON ENERGY PUZZLE
BW
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DALLAS--(BUSINESS WIRE)--June 23, 1998--Midland Inc. (OTC/BB:MIDL) CEO Daniel Fisher announced today that a special meeting of the Board of Directors was held in Dallas to address the inappropriate actions of Mark Pierce, the corporate secretary.
A three-page due diligence report was issued by Midland/Arcon's corporate law firm, and its findings are that Pierce has no authority to:
-- Announce verbal resignations that are false;
-- Accept resignations of Board members without notifying the
majority of the Board;
-- Create two meetings of which one Board member was present and
the other two were purposely not notified; and
-- Rescind the Arcon's reverse merger after a meeting with one
Board member without notification to the two other existing
Board of Directors, which does not constitute a proper Board
meeting.
Fisher stated, "On June 16, 1998, Mark Pierce put out an illegal notice about Midland, Daniel Fisher, which is not true. In a press release, Midland announced a new Board, but it did not name the new members, which is more of Mr. Pierce's corporate propaganda because there are three existing members who have not resigned, and they must elect two additional. Mark Pierce did not and could not elect any further Board members without notifying the existing members. He held all his meetings with Wayne Duke, one Board member and himself."
Fisher continued, "Mr. Pierce stated that I verbally resigned as director and CEO, which is the only way a Board member of Midland, Inc. may leave the Board. The only other legal avenue is to be voted off the Board by a majority vote. Institutions that represent these votes hold almost 15 million common votes at this time and the matter shall be properly rectified."
According to Fisher, "Mr. Pierce has been given notice at his office and home that he has been suspended by the existing Board until these corporate matters are rectified by the new Board. I expect these matters will be fully clarified; however, we will advise you of the filing of a special shareholders meeting to be held in approximately 15 days of which common voting shareholders of Midland, Inc. by proxy can elect a new full Board of Directors."
CONTACT: Midland Inc.
Daniel W. Fisher, 972/991-3200
Fax: 972/991-3295
E-mail: archem@swbell.net
If my friends and I had not lost so much money and or paper for those of us still holding, I think I would just laugh for hours and hours and hoooooooooouuuuuuuuuuuurrrrrrrrrs.
jeff at his desk feeling like an all day sucker. |
