To: Janice Shell who wrote (23874 ) 9/6/1999 9:46:00 AM From: tonto Respond to of 26163
I am fully aware of the history. Discussion as it pertains to the company is relevant. Too much has been made of private lives for malicious intent and that I hope shall be controlled. I do have a suggestion regarding the housing concerns brought to our attention on raging bull and in the affidavit, to cut costs maybe the two of you could consider renting a place together... This is what really is relevant regarding $$$'s. From the 10K: For the year ended December 31, 1998 the Company experienced a net loss of $4,815,331. The primary components resulting in that loss were: revenues - $392,061; cost of goods sold - $92,275; operating expenses - $5,120,982; and other expenses of $(5,865). While revenues increased by almost nine fold, general and administrative expenses showed dramatic increases. This was primarily a result of the recording of the sweat equity for shares issued based on a prior consulting agreement with certain officers and directors of the company. Additionally, certain salaries were accrued for officers for 1998. Shares of stock issued to certain officers and directors... Operations for the year ended December 31, 1998 includes a non-cash loss of $3,763,100 due to a loss on stock issuedfor consulting fees and the accrual of officer's compensation. The major components of other expenses were Meals/Travel - $107,966; Amortization/Depreciation - $73,023; (Let's see the depreciation schedule of the assets...) Professional Fees - $124,530; Salaries/Wages/Payroll Taxes - $237,586; and Consulting Fees of $144,823. That's the story as far as AZNT numbers and management... The court cases are seperate issues.