To: Rod Currie who wrote (28145 ) 11/23/1997 7:36:00 AM From: John Wetterau Read Replies (2) | Respond to of 35569
Rod, I did not vote my proxy before the AGM. I had a small number of shares, and I think I glazed over on the legalese--a mistake. I tried unsuccessfully to follow up on LF's educational claims. My daughter-in-law in Washington academia and Eldon Slife's son, a student at Central Washington, could not find a record of graduation. The subject was discussed here, but, as I remember, no definite conclusion was reached either way. I wish I had known about your CSU trace. I lost all my savings, and that doesn't bother me--I was clear about the risk/reward going into the investment. I manage a few accounts for friends & family. I had them invested in much smaller amounts and got them out at 3 1/2, losses which can be readily recovered over the next year. So that was not good, but OK, balanced by other good calls. What makes me mad is that I didn't follow up on the educational thing. I would not have invested a cent if I had known for a fact that LF was claiming degrees he didn't earn (cuz of credibility, not cuz degrees have much to do with mine development). A good lesson. I tried but not hard enough. Zeev was correct in his reading of the price action pre-release. I missed that one; I was distracted by all the attention given to the MM shorts. Score one for TA. Live and learn, OK. But I should have followed up on the degree thing. I asked the company, too, but of course they didn't answer. My fault for not persisting. That makes me mad and determined to persist in the future. All that said, this story is not over. I have to watch it for a friend who is still long. Possibly the situation is not as bad as it seems, just as earlier it was not as rosy as it seemed. Management may only be semi-sleazy; they may still care about their reputations. Bateman, if financed, may find a recovery process. The funds may opt to take over and continue the research effort. Management is required to file 10Q's, so we have that source of info, anyway. Sooner or later someone on the inside will reveal what is going on. Maybe someone will quit and tell all. The funds may oust management at the next AGM; we may get someone credible... We'll see. There will be trading opportunities, for sure. It may take awhile, but we will get to the truth eventually. John