TO: All Araldica Share Holders
FROM: Frank J. Landi, Sr.
DATE: 24 September 1998
SUBJECT: Latest Drivel From Wine Investment News
Mr. Perdue has now started to pick up stray chat room gossip (see below) and reprint it as new "revelations" about Araldica; it's all still baloney- 100% manufactured- and still coming from anonymous short-sellers:
a. We have given no one raises in 1998- no one- nor have we promised any raises to any persons that work at Araldica. No one in this company takes home more than $500 a week. Any statements to the contrary are complete fabrications.
b. We have issued a grand total of 750,000 new AWLT shares during all of 1998; any and all new shares that are now trading, over and above the amount of trading shares previously noted, are as a result of prior 144 shares that have qualified to become unrestricted since the October 1996 merger (their issuance date), at which time Araldica became a public entity. Some qualified after one year, all qualify after two years; all such activity is normal in the course of business and perfectly legitimate. None of such shares are being or have been unlegended by either the former or current Officers and Directors of this company.
c. When we merged, in 1996, with the public company known as "HPI Recycling, Inc.", which was the surviving company, and which changed its name to Araldica, we executed contracts with the prior controlling principals that committed to us that HPI was a "0/0" shell company- no assets and no liabilities. Since that time, certain persons have contacted this company claiming that HPI did in fact have outstanding debts when we merged with it. We did what any responsible company would do in each such instance: We turned the matter over to council for resolution. The instance mentioned by Wine Investment News was settled in 1997 (the prior principals paid to resolve it), and we have the settlement papers in our files. The notification which we just received, indicating that the old HPI claimant was "rescinding" the settlement and going forward with a lawsuit against Araldica, will also be handled by the company's general counsel. In the opinion of the company's management, this new claim is a total fabrication, and totally without merit.
Stay tuned.
Frank J. Landi, Sr.,
President
Araldica Wineries, Ltd.
Attachment from AOL:
Subject: shares dumped
Date: 9/15/1998 9:47 PM Eastern Daylight Time
From: Longtermhd
Message-id: <1998091601470800.VAA10723@ladder01.news.aol.com>
anyone want to confirm how many millions of new shares awlt has issued in the past month?I have heard from 7 to 14 million. awlt seems to consider all LEGIT information as insider information. oh well let them play! thier day will come. if not the sec then the irs. I have also heard that the insiders after having sold millions of shares have given raises to all family members employed by the company. GEE i wonder how many that could be? |
