To: Starlight who wrote (9213 ) 8/13/2000 11:18:33 PM From: Jay Erlandson Read Replies (1) | Respond to of 9695 I have been reading the excellent posts by many of the attendees of the shareholders meeting in California. I also attended the meeting and have compiled my notes. I am putting this together realtime, and I apologize for any errors. I realize the following post is very long, but I think that if you take the time to read it, your will share the enthusiasm that myself, LACrim, Elizabeth, and many others were able to extract from this very exciting day… As I stated, I am putting this together this afternoon, and I will post it as I go along. It is rather lengthy, and anyone finding it too long and detailed, need not read any further. First of all, I would like to extend a sincere thanks to all of the staff members at JMAR for putting together this very informative meeting. I thought the presentations and physical displays demonstrating the latest in technological offerings from JMAR by the engineering staff were outstanding. Having a technical background myself, I was able to take the time to observe and develop a very clear understanding of JMAR’s emerging and current position in today’s marketplace. Secondly, I would like state that I am in no way affiliated with JMAR Industries, other than the investment position I maintain. I would like to explicitly state that the following information is subjective and is my interpretation of what occurred at the shareholders meeting. Additionally, I would encourage anyone who reads this document to point out any discrepancies that may exist and bring them to my attention. Additionally, I would like to thank LACrim, Elizabeth Smallfelt, and all other posters on for their accurate and informative interpretation of the information presented at the meeting. I was in fact standing next to LA when Mr. Sepe discussed some of the facts provided in his report. The information that has been posted is exactly what I heard, and I concur with La in that the level of enthusiasm and competence demonstrated by the all members of the JMAR team prevailed. I arrived at the meeting about 1 hour early, and was able to speak freely with Dr. Martinez and the officers of the company representing every division and technology area at JMAR technologies. One of the first people I had the pleasure of meeting was was Joseph Martinez, Vice President of General Counsel. While the legal end of things is not in my bag of tricks, it is my impression that Joseph Martinez is very competent in administering legal responsibility within this company. He explained that the legal responsibilities for the company can be broken into two basic areas. The first and most obvious are ethical and SEC issues concerning the distribution of information. They seem to be very aware and are acting proactively in this area. As an example, the press release issued the morning of the meeting was done so to ensure that any and all information made available to the shareholders would have already been available to the public. A second and extremely important area of legal concern is the protection of intellectual property. While I did not fully understand the process in place to administer this function, it was made clear that a system exists and has existed for some time to protect the research and development of the company. The deficiency here is in my lack of legal knowledge, not in the JMAR's presentation of the material. Additionally, a third and very important administrative item that was presented in the meeting was the fact that JMAR utilizes Arthur Anderson as their accounting firm. I believe I am correct in saying that AA has assigned a person to provide full time management and evaluation of the accounting system. As many of you know, AA is one of the top companies available for this purpose. Once again I do not have the proper knowledge to evaluate this in more detail, but I have learned through past experiences with other companies that this is an area that needs to have a great deal of attention directed towards it. I will continue my next post (in an hour or so) discussing the reports presented by the respective officers. toly