I received the following email from DROM/Dr. Vertucci today. I don't know if it has much new information, but at least it is some form of communication from the company:
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Dear Mr. Wild:
Thank you for your recent request for information. I would also like to thank you for your support as an investor. The Company has experienced some challenging times over the past several months. Let me address your concerns and give you some insight where we think we can go over the next few months.
The SEC investigation is on going. I am enclosing a copy of recent
correspondence from the SEC on this matter. Also the SEC has repeatedly included the following statement in all correspondence with the company: "This investigation is non public and should not be construed as an indication by the Commission or its staff that any violation of law has occurred nor should it be considered a reflection upon any person, entity, or security."
I have been advised by my security counsel that these investigations can take up to several years. As we learn more, we will keep our dedicated investors informed.
Regarding developments with the USGA, we have finalized the terms of the USGA contract. The USGA is awaiting some indication on the status of the SEC investigation from their legal counsel. We hope to have some indication in the next few weeks.
The company is making every effort to resolve the known issues that have caused it to be listed on the pink sheets. As of yesterday, the audit is pending a legal opinion on several material issues. Hopefully, these will be issued in the next week.
Regarding the overall status of the company, we have stated all along, the USGA contract is central to the company's growth. We have invested
significant time and money in positioning the company for this opportunity. While we have several other opportunities available to us, the USGA is critical.
I talk with Wayne on a regular basis. However in trying to respond to the SEC, we have delivered and have prepared for delivery, over 3,000 pages of documentation and over 2 billion bytes of computer programs and information. I am sure that you can appreciate the magnitude of this undertaking. Thanks again for your interest and support.
Sincerely,
P. Joseph Vertucci |
