To: the gator who wrote (2231 ) 12/1/1999 4:01:00 PM From: like_it_is Read Replies (1) | Respond to
This is my first time posting to an SI board anywhere. The only reason I joined is to comment on the management of this company. I will try to be as brief as possible, but forgive me if I ramble a bit. To the individual who posted the original message, you have got to be kidding. The management of this company is a joke and has been rewarding themselves at the expense of shareholders for many years. I have been a shareholder since 1992-93,(Long over 20,000 shares), so I have some experience with the operations of this company, albeit I have not followed developments for the last 18 months. For those of you who have not seen the Financials for the year ended June 1999, I suggest you get a copy and read it for yourself. The two individuals who I am most familiar with and are most critical of are Edward Plumacher and Michael Russo. Their titles keep changing so I am not sure what their current roles are. Lets just say they are a major part of the problem. These 2 guys are promoters by nature and continually hype this stock yet they fail to deliver anything of substance. Unfortunate for shareholders, most of their compensation is in stock options so when they are trying to interest other parties in buying this stock, they are exercising their options. Again if you don't believe me take a look at the Financials. Look at the number of options exercised by management, employees, and directors. They even violated NYS laws regarding the sale of company stock without proper filings. They have been sued by former employees and haven't met it payroll tax obligations for the last 2 years. I could go on but I think I have made my point.
