Good Sunday Morning to you all, I'm moving the Federspil post over to famliar country for referencing for those of us who have made ourself at home on this thread.
Hello all NVID followers.
I am writing to inform you all of the information I gained from the company.I was at the shareholder's meeting, and came out very impressed.I intend to flow this through the events as they happened, in no other order other than whom I met first and the events that happened through out the weekend. I went to the meeting as a shareholder only, and will give you this information in a bias form. Yes I am FOR THIS COMPANY. There should be no doubts there. I do however present the facts as facts, and the opinions as opinions.
I met Diana Korpal first. She is a wonderful lady. Very pleasant
to talk with, and very intelligent, especially within her field of
microbiology. We talked of all the past events and some future. The most impressionable thing from her, and all the other people I talked with about Diana, was that she was Betrayed more so than I think anyone else. She was used by Bunte and Klenovic, in such a vicious manner that I was in shock. Granted she made a mistake of following them, like many of us did, but in all truth, she just made a mistake and should not pay for it for the rest of her life from a bunch of critics. Who knows anyone of us could have made the same error if we had the passion she does for doing good things for this world.
I then met the inventor of AXEN, Andy Arata. He is a very nice
person. I was very impressed with him, and I hope that in the future be able to be good friends. He impressed me with his knowledge of the
industry. He also showed great interest in the outcome of the company. The senior staff stated that his is fully supported and employed indirectly via consulting work and contract negotiations. This alone, to me, was a major benefit.
Mike Redden was the next person I met and discussed things with. He
is very much a go-getter. It has been hard for him in the fact of having to restrain his aggressive business nature. As far as Mike being the one to run NVID, I am all for it. We the shareholders need this to push AXEN through the next years. It is a dog eat dog world, and he for one will protect our investment. He and Dave are the ones to force the issue of NOT using the Bunte and Klenovic shares to establish a quorum.
David Larsen was the last one I met. He is the conservative one of
the business. Mike and Dave discuss issues daily on the outcome for both sides of the business. I did not speak with Dave as much as I would like, but he led the meeting very well. He and Mike both answered each and every question presented.
The meeting.
It started slow. With introductions from all the key members there.
The first opening discussion was about the business itself. Giving a
historical overview, starting from the arrest on 4 APR 97 through today and where they stand from the court issues.They sold Auqionics, the testing of AXEN continued, several lawsuits were settled, the research for dental applications is continuing, and all of their accounts payable are current. All other debts are under a payment
plan to space out the debt load to increase operating capital.
The payment to previous employees, and current employees, is being
worked as to not cripple the company. The current salaries for Mike and Dave are $2,500.00 a month. The back pay issues will be discusses to the shareholders and other at a later date, when the company is self-supporting again.
The patent attorney is Mr. Freehoff (?spelling). He stated that
there are at least 3 major patents being worked. Two are for formulas of AXEN, and the third is a process in ionization. The timeline for all to be complete is hoping to be within the year. The key issue for not having it done RIGHT NOW, is so that they are well written and are complete to protect the product. This to me is very smart business sense. Who wants to go to all the time and money to have it stolen from the company. I DON'T. After listening to Mr. Freehoff, and then talking to Mike and Dave after the meeting, the feeling was, if you don't believe it exists, good.
I asked about the FDA issues. It is still pending Alpha testing,
and some Beta testing of AXEN, before they submit applications to them. Funding, at one time, was offered for research by the FDA (supposedly). This is still being researched, however it is unlikely to believe anything from the Bunte dynasty.
Due to all of the litigation happening, money and revenues are not
being produced as they should be. It has taken months worth of time out of the company's operation to answer the SEC. They are trying very hard to divorce themselves from those issues through the proper means. This however takes time. This takes time away from the company, vicious cycle huh? Hopefully these issues will be resolved in the coming weeks, and the company can proceed full force after the meeting to resolve the quorum on the 10th of NOV.
The decision to not use the millions of shares to force the quorum,
was the decision of all. It was meant to show the SEC that the shareholders want to have the company proceed. Thus, by not using the shares the quorum was not met. The other reason for not using those shares, it will show that the company is not trying to pull any fast ones. In that giving the appearance to proceed just because they want to, and disregarding the shareholders desires.
In all of the decisions from the proxies, a FOR vote of better than
95% was in for all three issues. The deciding factor of about 7.5 to 8
million votes shy of the quorum. The total amount of funds from the sale of the Arata home is $218,000. These revenues are planned out to be used to sustain NVID for the next two years.
They are expanding their market place to overseas. They are looking
to expand dealerships for the Aquabio equipment in the Orient to include China. They are also looking very hard at Spain and India.
A very sour note came from the information that the Klenovics took a
lien on the house to the tune of $300,000. This means that the bank will receive first proceeds of a sale and then NVID. That would give NVID about $350,000 instead of the full $650,000. Needless to say, all were not happy about this. What can the company do about the 300K loss. In my opinion, it looks like there will not be much they could do except maybe take a loss and use it against taxes at a later date.
The issue of salaries came up. Currently both Mike and Dave are on
a sustainment annual salary of $30,000. The back pay for all, Sheffield, Arata, Korpal, Redden, and Larsen will be made good when the company is solvent again. Whether these payments will be in cash, stock, or other means has not been determined. However, they do intend to repay the people in time. Payments to those that contributed their personal money, to keep the company afloat, are being worked now.
The biggest part of the meeting was the fact of partners. NVID is
trying to find a corporate sponsor to assist in the three areas needed; financing, marketing, distribution. I asked specifically what they needed, and the answer was they didn't exactly know right then. After talking more with the group of shareholders there, it was concluded that the key issues that NVID needed were someone able to market and distribute both AXEN and Aquabio. Financing is still questionable, but it is an issue.
So yes the are in open talks with one fortune 100 company, one
fortune 150 company, and 4 other interested firms that are both foreign and domestic. This means to me that they mean business and so do the other players. All are interested in assisting both sides AXEN and Aquabio.
An exciting part of my trip was, I SAW AXEN. Not only did I see, I
touched, and used it. Guess what? It is real, it is there, it WORKS. So in the coming months I hope to do some more research on the possible impact, and gains that this little "NON EXISTENT" formula can do...
I am a share holder and control over 30,000 shares. If I had to put
a position on the company, I would say that it is now a solid investment for a future potential that is impossible to imagine.
If you bought high, I recommend you average down. If you are new to the NVID as an investment BUY NOW. If you do not believe in what I have said, or need more information, please ask. If you are a sceptic and do not intend to invest nor do you believe that what they have is real, please just go away, because all the people I have talk to, the investors that were there, and others involved in the company, we really don't care if you do not believe. BECAUSE WE DO !!!
If there are specific questions that you would like to filter back
to me, I will be more than glad to answer them. I do forget things from time to time, so a good question might just jog this old memory of mine. Remember, some things are still sensitive to the SEC, but I will do the best that I can to comply.
Randy Federspill
rfeder@the-link.net
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