Jin.....Good to hear from you again. Hang in there. Patience is a virtue, especially here. Ouch.
Okay....Here'e the latest scoop. It's a mixed bag and I'm sure Lurker and LE will have a field day. First off, the company was completely surprised by the latest buying spree(why do all companies say that?).For the last couple weeks, there have been some large blocks being bought and the company has stated that no information has been released to spur this activity. The company's broker is looking into this activity to determine a cause. Good luck.
Regarding 98's financials. Mike met with Steve Corso on Wednesday. 98's 1st three quarters will be out on Monday, November 23. Mike is traveling to New York next week to insure that they are completed by this date. EPS will not be included in this report. Why? No answer was given. I didn't like that part at all. The data will be posted to the website soon afterward. The website will be reconstructed soon.
There will be no conference call with the release of these numbers. The numbers will be released in a press release format.
The company has made a joint arrangement with two firms to promote share value. Crescent Partners Fund, L.P., a Dallas based firm and Preferred Financial in L.A. have been engaged to raise share value and raise capital. Raise capital is a broad statement, but, it wasn't expounded on. The company is moving forward to increase public relations and awareness in the investment community. YEAAAA.
All necessary information dealing with the shareholder's meeting has been compiled and forwarded to counsel. SEC regulates certain timing and with the holidays being so near, scheduling a mid-December meeting is getting tight. The company is determined to hold the meeting this year. In my opinion, Randy would've made sure this meeting took place. It's different now.
Here comes the dirty laundry. The company has determined that Arif will absorb the position of President. Arif now acts as the Chairman of the Board, President, and CEO. Mike's positions are VP of Finance, CFO, and Director of Investor Relations. With a new Board of Directors being installed after the shareholder's meeting, the Company will have a suitable and experienced management team in place. Mike's words gang. I think you know me better than that.
I asked Mike is there anything positive on the table? Answer. The company recently established a positive and energetic plan for growth by raising capital(don't know exactly what that means), paying down debts, and expanding our service markets.
Well. Use it. Abuse it. Don't blame the messenger. I still wish Randy was with the company, but, we have to work with what we got. |
