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Technology Stocks : AremisSoft Corporation (AREM) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Rudd who wrote (559)	7/17/2001 10:55:58 AM
From: Sir Auric Goldfinger	Read Replies (1) \| Respond to of 683

cultural differences?!? $4M versus $37.5M, I don't think so. I think FRAUD, pure and simple.

To: Bob Rudd who wrote (559)	7/20/2001 2:06:17 PM
From: Jules B. Garfunkel	Read Replies (2) \| Respond to of 683

Bob, The problem with your logic is that you may not be looking deep enough. While the Bulgarian contract may have served to open Pandora's Box, what's coming out begs answers to many more questions. For instance; ---How is it that AREM overstated the value of the Bulgarian contract by a 10 fold magnitude, while at the same time some top inside executives were selling all their shares and options, at arguably inflated prices? ---How is it that the President of the US Group, (who was just replaced yesterday), held such a lofty position with the company having once been suspended by the SEC for overstating financial results, (albeit, while he was with another company)? ---How did AremisSoft get the Bulgarian (NHIF)contract in the first place? ---What other companies were bidding for the contract? My understanding is that AremisSoft may have been the only bidder. ---Given the fact that the money was supplied by the IMF, was the selection process above board and in compliance with the fiduciary obligations of the Bulgaria Health Insurance Fund to the IMF? ---Why did AremisSoft win this contract for software development in Bulgaria, while the company employs relatively few Bulgarians, and in spite of the fact that Bulgaria is known to have many inexpensive, yet excellent and unemployed software engineers? Instead, the contract was awarded to a company with predominantly Indian software workers. Compounding my mistrust of the legitimacy of this contract, is the fact there is continued uncertainty as to which rules were in effect at the date of execution? (i.e. was AREM registered to do business in Bulgaria at the time of actual signing). ---How many full time employees does AremisSoft really have? ---Are there the approximately 1300 employees as claimed in AremisSoft recent press releases, or 838 as documented in their recent lawsuit filing against Thestreet.com et al? As a financial analyst, I find it very difficult to understand the company's financial reports. Because of the dynamic changes within the company over the last few years, comparisons from quarter to quarter, or year to year, are next to impossible to make. Now this may be my shortcoming, but there are enough questions in this analysts mind to warrant my shorting AremsSoft stock. Jules