TG and all,
This morning I have talked with H K Elrod, Mike Millis and Elaine Cawley on a conference call. I have asked them some specific questions and will post them and the replies below. Let me first state that in the context of my questions and answers I am not making any recommendation for anyones investment decisions regarding CSMA. The general way that the conversation went and the responses to certain questions are in my own opinion satisfactory for my own reasons to be an investor in CSMA. It to me was like a breath of fresh air. H K is quite a guy and I enjoyed talking to him greatly. Mike and Elaine were most enlightening on what a companies proper business perspectives should be. That is what I had wanted to hear, what is proper. What can be said and what would be considered improper such as speculative news releases or definitive timeframes of business actions that could place the company in jeopardy for missing those timeframes due to circumstances beyond their control. On our CSMA thread here we have all been through a lot lately with all of the rumors thrashing around. People have come on to post whatever may be in their own agenda for whatever reason. Usually money has something to do with it. It is each and every investors own decision to make their own best judgement call about what is being said both pro and con and decide the best course of action based on that. I have made mine for now and will remain a long term shareholder in CSMA.
Questions and answers.
#1 Answered by H K Elrod
Does CSMA have adequate capital in place for whatever has to be done to get the Envirotec well into operation and procede with their business plan when that is completed?
CSMA has the capital in place to be able to progress with this operation. Money is not a factor in completing this operation.
#2 Answered by Elaine Cawley and Mike Millis
What does the compnay see as any problems arising from a timely completion of the reverse merger with BUFF?
When doing the preparation to merge with BUFF and the filings that must take place with the SEC, a lot can depend on lawyers and CPA's doing what must be done in order to submit the paperwork to the SEC. The SEC then has a certain time period for reviewing the application and also may send back to the company any points on which they have asked for clarification. This in turn would start some of the process over again.( It IMO is a very complicated process to say the least and could be subjected to unexpected delays for reasons beyond a companies ability to predict on a timely basis). That is why in the press release from the company a tenative date can be established, but would be improper to set that date in stone as it may or may not change.
#3 Answered by H K Elrod
Does M3 currently have any relationship with CSMA
NO. They are not currently involved in any capacity.
#4 Answered by Mike Millis
What is the companies position on what has been posted on the internet in regards to rumors about what is going on currently.
The view that is taken is that the internet can be an open forum where anything can be said. Things can be said in order to try and influence peoples thoughts for the good or bad involving their decisions to buy or sell stock in a company. It is also a place where unsubstancited allegations can be said by those that hide behind the veils of annonimity. It is a new forum making itself felt for people trying to find out information about companies, not in itself thats bad, but the possibility of influencing someones objective decision making can be abused. As has been posted lately about the letters to and from CSMA's attorney. H K also said that he hasn't recieved anything more than a fax without sending number ID. Nothing from a legitimate legal standpoint. About a 17,000 square foot house. It is untrue. A 2,500 square foot house was being built for H K and family in AZ . The various posters that have come on and suggested impropriety have their own agendas for stating that and it is being looked at from a legal standpoint. The letter from Dan Jackson the attorney for CSMA to Global Funding states the companies position of why the merger with LPS was called off.
#5 Answered by Mike Millis and Elaine Cawley
Will the company be putting out a letter to shareholders discussing some of the current situations going on?
Yes, we are currently working on it now.
In summation and from my own opinion, I am going to remain a long term shareholder in CSMA. Its been a bumpy ride so far, but I am more comfortable today than I've been in a while. There are probably some questions that didn't get asked or some answers that may not be complete enough. I did tell all parties at the beginning of my conversation not to tell me anything that they wouldn't want known to the whole world as I would be sharing those responses on the CSMA thread. As a whole I did enjoy the opportunity to talk with H K, Mike and Elaine and I would like to thank them for devoting some time to responding to my concerns. It is up to each individual to make their own investment decisions as they see fit and do their own DD to base those decisions on. No time to spell check, off to work.
Dave |
