It's amazing how much truth comes out of a financial statement. 1.3 in revenues. Arif, apparently, was running the company into the ground. In my humble opinion, without the acquisition of Myriad and Randy's hiring, the company would be bankrupt by now. It was OBVIOUS how they were staying at least solvent in '97. Yep. Stock sales. They grabbed around 700,000 from SHAREHOLDERS. Then , getting a taste of the good life, Arif hires some slick stock promoter, alias president, to pump the stock to help BOTH of themselves to the cookie jar, alias shareholders cash. But, herein, lies THE BIG CRIME. Ira, or a company controlled by Ira, received 1 million shares as compensation for '97 at a market value of 200,000. If he and Arif were selling shares into the market when they were BLATANTLY LYING to shareholders, they've committed a serious crime. SEXI'S CEO did the EXACT same thing and got 4 years, but, the class action is still pending. That was 2 years ago. Class actions are usually meaningless and shareholders get basically nothing.
Arif knew what revenues were after that last sip of champagne New Year's Eve. 1.3 million. That's it. 100 grand a month. You can count that on your fingers. He was simply running the company into the ground and conveniently selling stock to stay afloat in the meantime. Oh, and blatantly lying to shareholders, with the help of his trusty sidekick Liar Monas to artificially inflate the stock's price. Arif and Ira committed a crime. The attorney general will conduct an investigation. On-going operations of the company will not be affected. If there is enough evidence, a supeona will be issued, records will be seized, and Arif and Ira will await their fate. The company will still operate. Hopefully, the end result is that both of them will be charged and Arif will be removed from the company.
Alot of people are criticizing Randy. Hey gang. He's your only hope here, so get a grip and get behind the guy. Alot of shit was thrown on his lap when he came onboard and maybe he was told what to say in the beginning. What would you have done? New job. New boss. Wanting to make a good impression. But, the company is different now. I see alot of positives coming from Randy. The company is, now, taking on his persona and this is a good thing. Now he needs to light a fire under his sales force and pull down some big named accounts and put that in a press release. If you believe in Randy's ability, you stay. If not..... |
