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Microcap & Penny Stocks : Syncronys Softcorp (SYCR) -- Ignore unavailable to you. Want to Upgrade?

To: (Bob) Zumbrunnen who wrote (22582)	11/18/1997 12:31:00 PM
From: Garfield	Respond to of 30240

Copied from their 10Q.. ITEM 1. LEGAL PROCEEDINGS. SETTLED MATTERS In 1996, the Company was contacted by the Florida Attorney General's Office which initiated a civil investigation relating to the SoftRAM product line. THE COMPANY COOPERATED WITH THIS INQUIRY AND SUBSEQUENTLY, THE COMPANY MADE A PAYMENT OF $125,000 TO THE FLORIDA LEGAL AFFAIRS REVOLVING TRUST FUND IN FULL SETTLEMENT OF THE MATTER. THE COMPANY HAS BEEN INFORMED THAT THE SETTLEMENT AGREEMENT HAS BEEN APPROVED BY THE FLORIDA ATTORNEY GENERAL'S OFFICE AND IS AWAITING THE FLORIDA ATTORNEY GENERAL'S EXECUTION AND RETURN OF THAT AGREEMENT. PENDING MATTERS In April 1997, the New York Attorney General's Office sent two letters inquiring whether the Company could substantiate advertising claims made with respect to its Windrenalin and CD Speedster products. THE COMPANY HAS RESPONDED TO SUCH INQUIRIES AND FOLLOW-UP INQUIRIES AND BELIEVES THAT THE PERFORMANCE OF ITS WINDRENALIN AND CD SPEEDSTER PRODUCTS SUPPORTS THE ADVERTISING CLAIMS. A MEETING IS PLANNED IN NOVEMBER 1997 TO DISCUSS RESOLUTION OF THIS MATTER. THERE CAN BE NO ASSURANCE, HOWEVER, THAT THIS MATTER WILL BE RESOLVED, OR IF RESOLVED, WILL BE RESOLVED IN A MATTER FAVORABLE TO THE COMPANY. In September 1997, the Company and an officer (Daniel G. Taylor) were named as defendants in an action commenced by PowerPro Software, Inc. in the California Superior Court for the County of Santa Clara seeking compensatory and consequential damages, punitive and exemplary damages, interest, declaratory relief as to royalties and vesting of options and mandatory relief arising from a software license agreement between it and the Company. THE COMPANY IS OF THE VIEW THAT THIS ACTION IS WITHOUT MERIT AND INTENDS TO VIGOROUSLY DEFEND IT. On October 30, 1997, the Company was named as a defendant in an action commenced by BINDCO Corporation ("BINDCO") in the California Superior Court for the County of San Mateo seeking compensatory and punitive damages, interest, attorneys fees and other costs relating to purchase orders and invoices issued between the Company and BINDCO. THE COMPANY IS REVIEWING THE CHARGES ALLEGED IN THIS ACTION AND INTENDS TO VIGOROUSLY DEFEND IT.