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Microcap & Penny Stocks : HITSGALORE.COM (HITT) -- Ignore unavailable to you. Want to Upgrade?

To: Mighty_Mezz who wrote (5013)	2/1/2000 11:15:00 PM
From: Q.	Read Replies (2) \| Respond to of 7056

next 3 posts: Dorian Reed's appeal of the judgment against him in the suit filed by the FTC: what the company said & what the court said. Recall that FTC case dealt with IBB, the company that Reed worked for soon after being released from federal prison, and immediately before he founded Hitsgalore. Recall also that IBB's business model included many features common to Hitsgalore's present business. What you'll see in the next three posts are three items to compare: (1) The 10k filed by the company in May, indicating that Reed was considering appealing the judgment. (2) The docket for the case from the 4th Circuit Court of Appeals, for case number 99-1833. This Docket appears to show that on Oct. 6, 1999, the Appeals court affirmed the earlier judgment against Reed. (3) The 10k/a filed in December, which strangely fails to mention his attempt to appeal. It says instead that Reed is presently "negotiating with the FTC." My questions about this: * By disclosing a forthcoming appeal in the May filing, did the company obligate itself to follow up and disclose the outcome, after the appeal was filed and concluded? * Did Dorian Reed indeed lose the appeal? I've never read an appeals court docket before, so I'm not sure. Is that what "affirmed" means, in the Oct. 6 docket entry? * If he did lose, why did the company: (a) not disclose this? (b) disclose instead, in December, that Reed is "negotiating" with the FTC? What is there to negotiate if he lost the judgment and the appeal?