To: rzer22 who wrote (31478 ) 6/20/1999 8:58:00 PM From: Suzanne Newsome Read Replies (1) | Respond to
rzer, you said, "Also wondering what exactly really happened with the Hwang,Guild,et al comings and goings." Hwang is the 28-year-old wonderkid millionaire. He is Mr. Web Site. He has many, many choices about where he can go next in his career. He doesn't have to put up with discomfort or hardship. He doesn't have to put up with anything actually. TSIG was struggling to get funding to Hwang's division. This made Hwang unhappy. Did Hwang not know about TSIG's cash shortage? Did Hwang not read the 10KSB? Did Hwang not investigate the company at all before jumping on board? Had Hwang not resolved to persist through difficult times? Perhaps not. Everything was hunky-dory on Thursday afternoon before Board Debacle Friday. On Friday morning, Hwang--out of the blue--without warning--resigned. Hwang could have done a thousand things that would have been kinder and gentler to the company than walk in and without warning resign. If he had discussed his desire to bail with Gordon and Henry, they would at least have had the chance to plan his exit with the least harm to the company. I guess when you are 28 years old and highly sought after, you can do what you damn please. Guild had apparently bought into Hwang's Internet division in a big way. Hwang's plans were very seductive. In reality, Hwang was going to need funding that TSIG didn't have, and it would have been 1-2 years before Hwang produced the big revenue. In the meantime, the Music Card was a lot nearer fruition. Guild also resigned abruptly. And he's not a 28-year-old millionaire. So Hwang and Guild suddenly decided to take a different path with no apparent concern about how their abrupt departure would affect the company. Regards, Suzanne
