Hopefully we will get more clarification from CBQ very soon. Right now I am not so sure that you are wrong. As the release states CitX has "Community-Centric Vertical Portals" isn't this what was to be spun off? Further down "Specific focus has been placed on providing integrated enterprise wide solutions to the healthcare..." if I'm not mistaken the healthcare part was the part to be spun off. Except for the intrapay part. On their site I have not found much else for Community-Centric Vertical Portals that are functional, has anyone else?
If you look at this part:
"Specific focus has been placed on providing integrated enterprise wide
solutions to the healthcare, insurance, banking, legal, and
retail-trade sectors. Services include, Internet-based Electronic
Payment Collection/Disbursement Services, Integrated Bill Presentment
Services, Electronic Messaging, Automated Procurement/Order Fulfillment Platforms, Middleware Enterprise Crosswalks, Secure International Transaction Processing Services, Web-based B2B Platform Monitoring Services, EC-Enabled Vertical Auction Platforms, EC-Enabled Vertical Auction Platforms, Vertical B2B Portal Platforms, and Web-based Business-Centric Software Application Platforms."
A lot of that looks to be CBQ anyway. I wonder if CBQ had a chance to approve the release this time. The impression that I got from Richard last week was that CBQ did not get to approve the May 13th release and he was using e-mail to get in contact with Bernie. Remember that the first CitX merger release came out before the licensing for bid4it (May 4) The spin-off of IntraMedX (May 5) and the agreement with GLPLLC (May 12). So this tells me that CBQ has grown stronger and CitX was stripped down and Bernie is getting his lawyers ready and expecting the same deal. I also wonder what CBQ thought since they own 10% of CitX to see the spin-off. I guess they really didn't have much of a say in it since they only have 10%.
Here is from the May 13 release:
"IntraMedX will focus on developing, and marketing new software applications and online services, and specifically for the healthcare sector, while CitX will handle medical claims payment processing, EDI gateway services, and essentially become the tollbooth of all Electronic Commerce transactions."
He should just come out and say that CitX is just Priority One and not use the conflicting nonsense in his releases.
Like I said before, Bernie is the one that needs this deal to get Priority One, the Bid4It auctions and the STOCK that he has promised to his employees. Notice that he is the one now having made 2 releases about his lawyers and what he expects from the deal. It sure looks to me that CBQ right now has a lot more going for it than CitX does without IntraMedX.
Gary, I may be wrong but my impression is that Bernie is going to try to make the rules as he goes and expect that everyone else is stupid. I am not sure after the moves Bernie has made lately that I would trust him to run the company for the benefit of the shareholders. He did not show up at the shareholder meeting because he was suposed to be in FL making some big deal, resigned from the board and the rest of the stuff. If he made some big deal in FL then how about releasing some of that instead of telling us about his lawyers. |
