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Microcap & Penny Stocks : Microphonics Inc. (mrps) -- Ignore unavailable to you. Want to Upgrade?

To: Basildon Bond who wrote (7337)	6/28/1999 9:28:00 AM
From: Joseph Hertel	Read Replies (2) \| Respond to of 8189

I don't see any reason to promote abuse just because you speak your feelings. The object of a thread like this one is to get both sides of the story out on the table. This helps promote good DD. Now for the issue of Jimmy Gayle and his non salary. How do we know that Jimmy is not a gazillionaire and does not need the income. Maybe his spouse comes from a rich family and they don't need to draw an income, further reducing the EPS. I guess the only way to find out the answer to these pressing questions is to e-mail SSA. I'll let you know if they respond back. Joe

To: Basildon Bond who wrote (7337)	6/28/1999 10:39:00 AM
From: Joseph Hertel	Read Replies (1) \| Respond to of 8189

I just received another "rapid response" from SSA. (You should really e-mail them if you have questions- very quick turnaround). Jimmy Gayle does not need to draw a salary. He would rather keep the money in MRPS so the company can use it (since the company is rather new). Secondly, the Russo Rossi arbitration is continuing with great vigor (and will prevail according to SSA). The shares in question were expensed as salary in 1997 and 1998. (1,400,000 shares at 1 or 2 cents each). When judgement is granted against them, they will have to replace the shares. Sounds good to me. Joe