Biosafe International, Inc [BSFE] Message Board

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Microcap & Penny Stocks : Biosafe International, Inc [BSFE]

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To: Rick Strange who wrote (175)	3/12/1997 8:17:00 AM
From: DCBEN	of 280

All, the soap opera continues. Edgar today contains a "report of beneficial ownership" SC 13D from Doc Rosen, which announces his intention to oppose the BSFE restructuring and "to oppose the current management of the company." The most relevant text: >>4. Purpose of Transaction. Richard Rosen acquired the 1,047,000 shares of Common Stock as a result of purchases made from 1990 to 1994. Mr. Rosen originally held the shares for investment purposes only. However, due to recent mismanagement and a proposal by the Corporation to the shareholders of the Corporation to change the domicile of the Corporation from Nevada to Delaware and to adopt certain anti- takeover provisions as a result of this reincorporation, Mr. Rosen now intends to take certain steps to oppose the current management of the Corporation, including filing a competing proxy solicitation to oppose such reincorporation. Any other steps to oppose management have yet to be specifically determined. In addition, Mr. Rosen is currently involved in a legal dispute with the Corporation concerning Mr. Rosen's personal responsibility for certain actions taken while Mr. Rosen was an officer of the Corporation. 5. Interest in Securities of the Issuer. Richard Rosen holds 1,047,000 shares of Common Stock. Mr. Rosen believes that the foregoing shares represent approximately 6.4% of the approximately 16,400,000 shares of Common Stock issued and outstanding as of the date hereof. Mr. Rosen has the sole voting and investment power with respect to all such shares held in its name. Mr. Rosen has not engaged in any transaction in shares of the Common Stock during the past 60 days. What to make of all this??? No wonder the company is finding it difficult to concentrate on managing projects and generating revenue. Is there a light at the end of this dark tunnel?? Allan

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