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To: JWC who wrote (31758)6/26/1999 9:27:00 PM
From: Zeev Hed  Read Replies (1) | Respond to of 44908
 
I would expect the bandits to be all the eight private investors. Since Deutch and family have not filed a form 13D (once one entity buys more than 5% of the common of a company) and he claims to have converted 15 MM shares, thus putting him at 15%, I presume that he converted and sold without ever owning at any time 15%, so classify him and his group with the group as well.

AS for Gordon, I do not know, all I can say from the SEC document is that he has sold between 50 to 70 MM shares in the open market at prices well above his cost for most of these shares (between $.15 and $.20) and even if the company fails, he'll walk away with a clean additional $10 MM to $25 MM in his pocket). It was all "legal" I presume (but I am not sure that he filed all the right papers with the SEC, someone will have to check this in more details). As of the question, could he have a side deal with the floorless bandits? That will be speculation and only a body with powers of subpoena could find this out, if ever.

Zeev