To: Riley G who wrote (22944 ) 12/2/1997 12:31:00 AM From: michael d kugler Read Replies (1) | Respond to of 55532
Riley, It would appear we have learned some things tonight. There exists a lawsuit which involves a material amount of money for this company. The original deal was for $1,500,000. The financials seem to say they have pared it down to $741,000. That is still a material event for this company. And there are the other acquisitions, all shares of which are off restriction. And the deals require more shares or cash. This lawsuit has not been disclosed until tonight. If this was really the greatest news, as you say, why wouldn't the company announce it, like they have other squeeze related suits? And don't forget the company, in the 8-K says: 4.7 Litigation. There is no litigation, or proceeding pending or to the knowledge of Olympus, threatened, against or relating to Olympus, its properties or business except as set forth in Exhibit N. (which is not in the filings). Further, no officer, director, or person who may be deemed an affiliate of Olympus is party to any material legal proceeding which could have an adverse effeect on Olympus financial or otherwise, and none is party to any action or proceeding wherein any has an interest adverse to Olympus. Are there other undisclosed legal proceedings? I asked you many times to ask Morgan to comment on Nicaragua. None of you bothered to make the call, or report your findings back on this thread. And everyone was begging for what I had heard. Since Morgan has decided not to talk to me directly, I knew I could count on you all to get an official company response to what I heard. And it would be better to hear that there are absolutely no banking problems connected to the Nicaraguan operation. Thanks for helping to get the company's explanation to what I heard. To: michael d kugler (22912 ) From: Riley G Monday, Dec 1 1997 8:18PM EST Reply # of 23105 I just spoke with Gary Morgan. As usual MK's stories are full of half truths. Gary Morgan said that RMIL filed suits against those mentioned for overstating the value of the properties and failure to hand over the books(or something like that). RMIL does not know of any counter suits, nor has Bancentro (sp) taken over any said properties in Nicaragua. RMIL is going to fax me some of the information tomorrow.