Urgent, please read.
Folks, please do not interpret this as a sell recommendation. Its not. I believe in our
technology and look forward to a prosperous future. However, I am very concerned
about those running the company. Here's why.
I have reviewed the proxy. The key employees of the company re-priced their options
at the end of the s-3 period and all have the option to purchase shares at 60 cents,
priced down from as high as $4.00. Folks, there may be unclean hands in our
company.
In essence, what this means is that they created a situation under which they profited
from the downward spiral. That may explain why no action was taken earlier. They
knew that they would not get hurt because they were going to reprice their options.
They walked away with a profit already and only we got screwed.
Right now, it appears that Larry Bymaster is the only indentifiable officer and director
with clean hands. The others may have clean hands, but its hard to tell. It looks as if
some may have been on the side of the S-3.
I am sick over this and spoke with CG today. he will be posting this evening. He
cannot from work today. he is prepared to layout the whole scenario and request
everybody to email him with your represented shares, with the eye of possibly filing
suit against those that, after a diligent investigation, should answer for this disgrace. An
SEC investigatin is possible. I have spoken with a prominent securities lawyer in NJ
and he is concerned over this matter. I will be meeting with him later today or
tomorrow.
Once again, I do not think the value of our shares is a problem, as long as the
shakeout gets complete. And right now, its not and I am sick over this.
PT
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