Saul,
There are two ORS's, ORS Arizona or Sawyer Adecor and ORS Texas. It is ORS Texas that became Titan. Oilex purchased 20% of ORS Arizona and never owned ORS Texas. The deal that was unwound returned the ORS Arizona stock for cancellation to Sawyer Adecor. If you want to wind up the deal Oilex can own, again, 20% of Sawyer Adecor. Is this what you want? <g>
Let me know when this gets a bit too confusing for you. Perhaps you should get on with running Oilex rather than spending good money chasing bad. You just finished prosecuting a lawsuit that prevented a whole $90,000 of stock from flooding <g> the market. How much did the lawsuit cost? Now you are running around trying to serve people in this same civil matter, spending money daily, while they are dodging your process servers, if you've hired
any, or are you still using the convicted felon Stanley to serve papers, and not paying attention to running Oilex. How long before the TRRC will be given notice that Oilex is in trouble. Have they been informed of the bankruptcy petition? We're still waiting for adequate notification of bankruptcy. Internet postings don't count. The SEC still hasn't received the informational 8-K filing on Oilex's bankruptcy I believe you have until the 19th to
give notice to the SEC.
The question remains in my mind whether your bankruptcy petition is valid on its face. You claim that you didn't know the financial health of Oilex until you looked at the books. How is this possible when you posted on 1/12/97 on this very same board that Oilex was a "sucker play". And you stated recently that you have no experience in the oil patch but you stated in that same 1/12/97 post that you lost big in the oil patch in the 1960s. Also,
you've been in almost constant contact from 1997 on with the shareholders or former shareholders. You've read the posts from late 1997 to mid 1998 that detailed that there were likely insider deals of a beneficial nature only to the insiders. And again in early 1997 you posted on this same board that the insiders would benefit before the shareholders. You come into Oilex buying heavily at an average price of around 16 cents and buy up over 30% of
the company and you say you were naive that the great Saul Yarmak savior of BXI was taken in by the big old mean Allen Burditt? That is so ludicrous that I am surprised that anyone believes you anymore. I contend that you were not surprised by any of your discoveries but that you have used them to shield your assets before you invest further. To shield your assets you must declare bankruptcy but you must produce enough creditors for it to be
justified. But the fact that you are funding lawsuits apart from the bankruptcy is not a good sign for the bankruptcy judge. And the fact that you are recovering so few assets is another bad sign. You are seeking to recover perhaps $500,000 from Burditt's personal property and you are desperately trying to attach the 800,000 shares of Power in Churchill Resources. I contend that you bought into both companies to gain control of a good asset base
and file bankruptcy and claim later that reorganization wouldn't work and then liquidate Oilex. You are already planning the sale of some Oilex properties I'm just wondering what's next.
Come on Saul give it up you're driving Oilex into the ground the shareholders deserve better than this.
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