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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: SEC-ond-chance who wrote (83044)	1/21/2003 10:49:37 AM
From: StockDung	Read Replies (1) \| Respond to of 122087

ANYONE THINK WORLDCOM DID FREE PHONE TABS LIKE NEW TEL. I WONDER IF GRUBMAN OR ARTHUR ANDERSON ACCOUNTANTS GOT FREE PAYOLLA PHONES? "Ms Iley and Mr Martino were two of a network of more than 100 people - who helped New Tel's shares race higher during the telco and dotcom boom - issued with free mobile phones." New Tel's free phone tabs By Geoff Elliott 17jan03 DELOITTE Touche Tohmatsu chief executive Domenic Martino had two free mobile phone accounts provided by failed telco carrier New Tel. As fresh evidence emerges about the extraordinary largesse sanctioned by New Tel chief Peter Malone at the expense of shareholders, sources said the accounts were for Mr Martino and his wife. His secretary at Deloitte, Maureen Iley, was also on New Tel's so-called "no-collections" list. When asked about her free mobile phone, Ms Iley said: "I'm not in a position to discuss that right now." Ms Iley and Mr Martino were two of a network of more than 100 people - who helped New Tel's shares race higher during the telco and dotcom boom - issued with free mobile phones. New Tel documents obtained by The Australian, which name Mr Martino and Ms Iley, point also to huge mobile phone bills being clocked up by Findlay & Co - the stockbrokers that sponsored New Tel on the Australian Stock Exchange. Under a heading "no collections accounts", as at September last year Findlay principal Ivor Findlay and his wife were listed along with Findlay broker Robin Armstrong. They alone accounted for more than $8000 in free mobile phone calls over the three-month or more period. Mr Armstong denied receiving a free phone or using the New Tel network and he did not know why his name was on New Tel's billing system. He said some Findlay staff had used the New Tel network but denied that Findlay executives owed more than $8000, saying it was a billing error. "New Tel's billing system was hopeless," Mr Armstrong said. "I'm still getting bills from New Tel and I just throw them in the bin." Others on the "no collection" list included broker Rafi Peer, New Tel directors Mark Hake and An Zhou, and New Tel chairman Harry Sorensen. New Tel's promoter in the US, John Germinario, was also given free network time, according to sources. Mr Martino was a director of New Tel until last February, and documents indicate he, along with his secretary, had been connected on the New Tel mobile phone network for no charge since February 2000. The New Tel generosity was a direct hit to the company's bottom line because the company still had to pay Optus for network time. In September, attempts were made by New Tel employees to put a stop to the free-phone policy and the phones were disconnected, including Mr Martino's. It prompted an angry response from New Tel's company secretary and Mr Malone's right hand man, Craig Piercy, who demanded users be reconnected immediately. Only since PricewaterhouseCoopers was appointed as administrator to the company in December was the free phone service finally disconnected.

To: SEC-ond-chance who wrote (83044)	1/21/2003 1:31:58 PM
From: StockDung	Read Replies (1) \| Respond to of 122087

TIME FOR: "NEW TEL POST OF THE DAY" By: vklepa 20 Jan 2003, 09:26 PM EST Msg. 30600 of 30603 With a bit more pressure on Martino and Malone they would probably point their fingers at each other. That would be an ultimate fun. We need a criminal prosecution for that to happen.

To: SEC-ond-chance who wrote (83044)	1/21/2003 2:09:46 PM
From: StockDung	Respond to of 122087

Deloitte's Australia Chief Quits Over Links To New Tel accounting.smartpros.com Jan. 21, 2003 (The Age) — The chief executive of one of Australia's top four accounting firms, Domenic Martino, has resigned following public scrutiny of his past involvement as a director of the troubled telecommunications company, New Tel. ----------- Deloitte Touche Tohmatsu announced that Lynn Odland, a past chief executive of the Australian firm, is again the firm's chief executive for at least the next six months while another chief executive is appointed. Mr Odland was the firm's chief executive from 1997 to 2001. Once Mr Martino had been anointed as chief executive, he moved from the post of chief executive to that of the firm's national chairman - a role he will now relinquish to deputy chairman Harley McHutchison. "I will probably see the firm out until at least the end of the fiscal year -- being May 31 -- but we may even get a chief executive even sooner," Mr Odland told The Age. A media statement issued yesterday by Deloitte quotes Mr Martino as saying he "believes firmly that any future investigation of New Tel will demonstrate that he properly fulfilled his duties as a director until he resigned in February 2002, 11 months before New Tel went into liquidation". Controversy over Mr Martino's involvement as a director of New Tel is due to media reports linking the former executive director's New Tel board membership and fees Deloitte was receiving for services provided to the telco. The Martino resignation has accelerated the release of a revised policy for directorships that has been approved in principle by Deloitte's board of directors. Most accounting firms, including Deloitte, prohibit partners from holding directorships in audit clients, but the revised policy will prohibit the holding of directorships in proprietary companies, except in rare circumstances. Those rare circumstances will typically have to be subject to the approval of the management of the accounting firm, too ensure there is no potential conflict. PricewaterhouseCoopers' policy, for example, requires partners and staff to seek clearance from the firm for membership of a board. Approval may be withheld if circumstances that might create a conflict of interest for the firm are identified. Mr McHutchison said Deloitte believed it was critical to ensure the community had confidence in the work of auditors. One way of doing this was to limit the circumstances where a conflict of interest, real or perceived, could arise from a partner or senior staff member being a director of a company. "We don't want to be in a position of a potential conflict of interest. "We think the community at large has a heightened concerned about conflicts of interest," Mr McHutchison said. Mr Odland said he expected no major difficulties with the implementation of the revised policy, because only four or five partners in a partnership of about 250 partners would be affected by the move. -- Tom Ravlic © Copyright of John Fairfax Group Pty Ltd Original date: Jan. 20, 2003

To: SEC-ond-chance who wrote (83044)	1/22/2003 7:52:30 PM
From: StockDung	Read Replies (1) \| Respond to of 122087

HOW ABOUT THOMAS HEYSEK'S PROMOTION OF MED GEN? TAKE A GANDER AT THIS. Has everyone been cured of snoring? MED GEN INC (MGNI.OB) form 8-K Item 5. Other Events At a Special Meeting of the Board of Directors of the Company held on January 20, 2003, a resolution was passed authorizing an 80:1 reverse split of the common stock of the Company whereby each eighty outstanding shares of Common Stock be combined into one share of Common Stock; and that the number of shares to be exercised for each outstanding warrant of the Company remain the same as if there were no 80:1 reverse split and the exercise price for each warrant be increased by a multiple of 80.