Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : USWC-U.S.Wireless -- Ignore unavailable to you. Want to Upgrade?

To: Sir Auric Goldfinger who wrote (117)	6/11/2000 11:38:00 AM
From: Outer-limits	Respond to of 136

USWC's chart is finally beginning to look healthy again. I have yet to hear about earnings (they were supposed to be out last week). I like USWC's niche business, and the fact they are in the hot telecommunications industry. USWC should continue its ascent upward in tandem with the Nasdaq. By the way, pick up this weekend's Investors Bus. Daily and you'll see a cup and handle formation has formed on the chart. This is VERY BULLISH. I think USWC has a good chance of breaking out into the 20s by early July. Good Luck, stay the course, and GO USWC!!

To: Sir Auric Goldfinger who wrote (117)	5/27/2001 9:33:44 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 136

...an internal audit revealed ``various irregularities'' in payments of cash and stock to possible affiliates of the officer. .... U.S. Wireless Replaces CEO, Cites Probe SAN RAMON, Calif. (Reuters) - U.S. Wireless Corp. (NasdaqNM:USWC - news), a provider of location-related information for mobile services, has replaced Oliver Hilsenrath as its chairman and chief executive, after an internal audit revealed ``various irregularities'' in payments of cash and stock to possible affiliates of the officer. The company said on Saturday that it has not yet determined whether the payments have had a material effect on the company's past financial statements. In response to his removal, Hilsenrath released a statement that ``compensation'' was ``paid to a number of bankers, agents and consultants'' who had supported U.S. Wireless through financing and ``creating important relationships'' for the company when other support was not available. He vowed to continue to be a ``great supporter of'' and ``an active member of the Board of Directors'' of the company. U.S. Wireless also said it named Dennis Francis, a member of the board of directors, as chief executive officer and independent consultant Louis Golm as chairman. An investigation by the audit committee of the board of directors uncovered ``insufficient documentation'' on cash payments and issuances of stock and stock options to possible affiliates of Hilsenrath and another former executive officer of the company, U.S. Wireless said in a statement. No evidence was found linking any other employee, officer, or board member to any improper action, it said. The audit committee conducted its investigation with the assistance of outside legal counsel and independent public accountant who ``had no prior affiliation with the company,'' the statement said. In its latest annual report filed with U.S. regulators in June of last year, U.S. Wireless listed BDO Seidman LLP as its independent auditor. dailynews.yahoo.com ------------------------------------------------------------- Press Release SOURCE: Dr. Oliver Hilsenrath Press Release From Dr. Oliver Hilsenrath SAN RAMON, Calif., May 26 /PRNewswire/ -- Dr. Oliver Hilsenrath, Founder of U.S. Wireless Corporation (Nasdaq: USWC - news) made today the following statement in response to the Company's Executive Committee's decision to replace him as Chairman and Chief Executive Officer: Notwithstanding the circumstances, I support the choice of Louis Golm as my successor as the Chairman of the U.S. Wireless Corporation Board of Directors and Dennis Francis as Chief Executive Officer. I am in strong disagreement, however, with the criticism by the company's Audit Committee regarding compensation paid to a number of bankers, agents and consultants. These entities and individuals supported U.S. Wireless Corporation by facilitating financing and creating important relationships for the Company at a stage in its existence when other financing and sources of support were not available. I must note that the strengthening of the Company's internal audit function cited was initiated and implemented by me within the past year. All my decisions have been made with the best interest of the Company and its shareholders in mind. As its founder and a major shareholder, I will continue to be a great supporter of U.S. Wireless Corporation, will continue to be an active member of the Board of Directors, and will continue to carry the message of the company within the United States and beyond. Dr. Oliver Hilsenrath Founder biz.yahoo.com