Re: 8/18/03 - [EDGH] Stockpatrol.com: Update: Edgetech Services, Inc. - An Onslaught of E-mails; Edgetech declares "We have decided to file criminal and civil charges against anyone who says anything untrue about us."
UPDATE: EDGETECH SERVICES, INC – AN ONSLAUGHT OF E-MAILS
August 18, 2003
Edgetech Services, Inc. (OTCBB: EDGH) is continuing to contemplate an offer to acquire 90% of the Company’s outstanding shares. As we reported in our recent articles on Edgetech, the offer came from Florida-based merger and acquisition specialists, Hollingsworth, Rothwell & Roxford (HRR). (See Edgetech Services, Inc., Part I - Looking For An Edge; Part II – The Game Of The Name; and Part III - What's In A Name?).
HRR initially said it wanted to buy the Edgetech stock at $1.00 a share. On August 8th, however, HRR upped its bid to $1.15 a share according to an amended Form 8-K filed with the SEC on August 11, 2003. Edgetech says it has been assured that HRR has no present ownership interest in the Company. For now, Edgetech’s officers and attorneys are investigating HRR and the offer and plan to respond once that process is completed.
But while Edgetech is deliberating, HRR has been busy. Soon after StockPatrol.com published its Edgetech articles, we received a series of e-mails from parties who identified themselves as Kenneth Rothwell, HRR, and Theodore Roxford. The first of those e-mails, dated August 11th, stated the following:
Before you continue to put out any more false stories about us and pretend to know us, why don't you e-mail us at kth@hrrma.biz and let us know where we can e-mail you proof of our being genuine. Where is your 100% irrefutable proof (and negative articles put out on us are NOT proof of anything), that we have ever done anything wrong? We await your reply. What do you even know about us that is 100%! Hollingsworth, Rothwell & Roxford
In response, we invited the sender to advise us of any inaccuracies which they believed to be contained in our Edgetech articles. They did not point to any inaccuracies, but instead forwarded us a series of e-mails (72 to be exact) reflecting correspondence between Theodore Roxford and various other parties. The tidal wave of e-mails apparently was calculated to demonstrate HRR’s status as a bona fide dealmaker. In fact, they do reflect a series of communications between Theodore Roxford and a number of individuals, including Henry Kravis, about several proposed transactions. But the e-mails that were forwarded to us are fragmentary and do not indicate whether those deals ultimately were consummated, or by whom. One of the e-mails indicates that Henry Kravis declined to participate in HRR’s proposal to Sony. (See Edgetech Services, Inc.Part II – The Game Of The Name).
What was the point of sending these e-mails to StockPatrol.com? According to one e-mail from “Kenneth Rothwell:”
Our points are these: Why would people like Henry Kravis, KKR, Texas Pacific Group, Asher Edelman, Guinness Peat Group, Leucadia National, Franklin Mutual Series, Anglo, CVRD, Ashanti Goldfields, International Paper, UPM Kymmene, Vulcan Materials WMC, Rio Tinto, Newmont, and many others, want to work with us if we were so-called: fraud, flakes, scam artists - and not real? - which is what your articles and most of the other articles that have been put out on us write, day in and day out?
Frankly, we were puzzled by these comments since nowhere in our articles did we write that HHR were “fraud, flakes, scam artists - and not real?” Instead, we focused on the Edgetech offer, and asked what would conceivably make Edgetech worth $1.15 a share.
We still have not received an answer to that question. But an April 15th message on Edgetech’s Raging Bull Message Board purportedly posted by HRR (and directed to Edgetech shareholders), claimed that “an announcement…within the next 2 - 4 trading days” would make “everything” clear. The message went on to say that “n no time the new Edgetech will have over $20 million in annual revenues and growing, $4 million in annual EBITDA, millions of dollars in cash, and no debt.”
Like Edgetech shareholders, we will be anxiously awaiting those revelations.
©2003 Stock Patrol.com. All rights reserved.
stockpatrol.com
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By: hrrma
18 Aug 2003, 03:41 PM EDT
Msg. 3277 of 3468
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From Hollingsworth, Rothwell & Roxford:
The markets do not understand what has happened.
We are willing to pay $1.15 a share on 2 conditions:
One, that the officers and directors of Edgetech
accept our offer - which they are doing, and two,
that the markets want us to acquire the Company -
which it appears is not the case. However, the
illegal naked short selling that began in Edgetech
stock as far back as in February - March 2003,
- long before we made an offer for the Company -
still continues to be very ongoing. We are prepared
to pay up to and including $1.15 a share for 90& of Edgtetech - if the markets really want us to acquire
the Company at that price. That is all we are saying. Period. End of story. When we raised an offer for
Zapata to $51 a share (which had no illegal maked short selling), the stock went higher than our offer. It is
up to the shareholders of Edgetech to decide for themselves what price they want for their shares. We are ready and able to pay $1.15 a share - for 90% of Edgetech.
(Voluntary Disclosure: ST Rating- Strong Buy; LT Rating- Strong Buy)
ragingbull.lycos.com
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By: profittaker0
18 Aug 2003, 08:58 PM EDT
Msg. 3415 of 3468
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"Dear" HHR:
I am not an investor in EDGH, but I am a licensed financial professional.
I find your PR's regarding this "takeover" to be extremely unprofessional and very likely illegal. I have forwarded all of your postings on Raging Bull to the SEC, as well as copies of EDGH's SEC filings containing all of your supposed "offers" for 90% of the stock.
I find it highly amusing that you post on Raging Bull regarding this issue. Unbelievably unprofessional and extremely embarrassing for you.
Also amusing that one cannot find anything on the internet about any of you except negative findings.
Here is hoping that you are as indemnified as EDGH is.
All the best.
JH
ragingbull.lycos.com
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By: hrrma
18 Aug 2003, 09:54 PM EDT
Msg. 3453 of 3468
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From Hollingsworth, Rothwell & Roxford
We have decided to file criminal and civil charges
against anyone who says anything untrue about us.
As an example: The person who calls himself "profittaker"
just called us from his home in Cincinati. We have his
phone number, real name, and address. He is another one of the people who have been falsely accusing us and making up things about us. We never mentioned the word "merger" when he called us. He made that up. To all of the people who have been paid to say untrue negative things about us:
We have on our phone a way of finding out who you are
and everything about you. We will press charges against
anyone who for falsely makes things up about us.
We are going forward with our offer for Edgetech. Period. End of story.
(Voluntary Disclosure: ST Rating- Strong Buy; LT Rating- Strong Buy)
ragingbull.lycos.com |
