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 : ACII - AmeriChip International, Inc -- Ignore unavailable to you. Want to Upgrade?

To: boiler1 who wrote (2026)	7/1/2008 12:50:55 PM
From: phoenixrising1	Read Replies (1) \| Respond to of 2396

Yes. Marc, et al, came to court with proxies dated after the vote to oust Ed, et al. RW represented Marc's side with their legal team. The judge issued a continuance for additional evidentiary discovery as marc's side said they realized they had more affirmative proxies that they originally knew. Ed team claims the proxies are less than realistic given the post-dated nature of some of them. He also claims that the proxies were never filed with the SEC to validate the vote and the boards actions. Therefore the vote to oust Ed, et al., should be overturned. The judge seems to be looking at this case as an issue between two partners that has gone bad and seems to want a solution somewhere in the middle. Schwantz, I believe, was able to get into the court records evidence that Marc's team has allegedly mismanaged (lost, taken, or otherwise distributed) over $14 million in company funds over a relatively short time span. They have turned this information over to the SEC and, I believe again, the FBI. I have no idea what, if any, action the SEC or FBI will take. The court has ordered discovery for late August with another hearing currently slated for October. So, stand by, but don't hold your breath.