AMERICAN BIOMED, Minimally Invasive Technology (ABMI) Message Board

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Microcap & Penny Stocks : AMERICAN BIOMED, Minimally Invasive Technology (ABMI)

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To: Ray Tarke who wrote (2178)	11/18/1998 4:32:00 AM
From: Dan A.	Read Replies (1) of 2887

Ray, Thanks for the info. Found this little tidbit in the 10-Q on Edgar: "In May 1997, a former Chairman and Chief Scientific Officer and director of the Company filed a lawsuit in State District Court of Harris County, Texas seeking an unspecified amount of damages and alleging oppressive action toward a minority shareholder, breach of contract, failure of consideration for the assignment of certain patent rights, wrongful termination and unpaid debts and advances. The September 30, 1998 financial statements properly account for notes payable to the plaintiff in the amount of $242,450, related accrued interest and accrued salary. The February 1998 mediation conference, which was mandated by the Court, did not result in a settlement agreement. The case came to trial in October 1998 and was settled on terms favorable to the Company." -Dan

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