i would suggest that anyone interested in the posts made on aol subscribe to aol so that they may read ALL posts made there. i've been on-line for many years...have seen stocks hyped and can usually read thru them...i can't for the life of me figure this particular one out....time will tell and a lesson will be learned!
anyway, since sycamore brought over the rumor du jour, thought i'd bring over at least one of the responses.
Subject: Genelawyer's Conversation With Gary
Date: Mon, Dec 8, 1997 17:47 EST
From: Bouhafa
Message-id:
As per the following instructions I am posting Gene's memo concerning his conversation with Gary this afternoon:
Bouhafa: Just read it...are you going to post it?
GENELAWYER: I can't scan. Will you do it please?
Bouhafa: Yes I will
Subj: My tel/con today w/ Gary of Mill approx/ 2:45 to 3:15 EST
Date: 97-12-08 16:57:19 EST
From: GENELAWYER
To: Bouhafa
Faris,
This reports on the above. Will use voice porgram, so will be rough.
1. In response to my question read Erwin' s statements in chatroom this morning, Gary says he has read printout of that, and it is totally false, Erwin is a liar, Sharon never said any such thing, and he was not shouting such things in his office, it is another example of the fabrication s that appear on the Internet.
2. Question: with Wavetech is alleged to have told a caller that it could not release information without permission of AIPN. Does that mean Wavetech has information re estimated reserves, and if so why are stockholders not entitled to it now. EvasiveAnswer: Wavetech is doing two things, namely extensive cited seismic, which is not yet finished, and evaluation of Soviet data. Both George Faris and I think it is reasonable to assume that
Wavetech will not be finished until 60 to 90 days from last week. Therefore, in my opinion, there will be no announcement until then. Question: what are we talking about, the seismic or evaluation of Soviet data? No comment. Question: are you saying that no announcement of any Wavetech results will be made for 60 to 90 days? Answer: I cannot comment on that. I don't really know.
3. Can you enlighten me to exactly what George Faris by the phrase "inevitable expansion" in the chew release? Answer: Rather long dissertation essentially saying that the asphalt refining factor is very big stuff, as is the deal with Venezuela. George thinks that the rest of the nation (other than the Southeast), and especially the Southwest, presents an enormous opportunity, and that such expansion, in the interest of the company and its
stockholders, is indeed advisable and inevitable. Question: Does this mean that George made such an apodictic statement, based upon his knowledge that the company will have the funds from the Kazak operation to assure APIN's capability to do such expansion. Answer: No.. It is apples and oranges. That statement about inevitability tells us nothing about what is going on re Kazakhstan.
4. Question: are the talks directed toward acquisition of the Neste Trifinery ongoing? Answer: I absolutely cannot and will not comment on that.
5. Has Wavetech identified any new structures not heretofore known to exist as public information? Answer: No. Wavetech feels, as do others, that there are hundreds, perhaps thousands of other structures, but they have not been identified, because they have not as of now been looked for. You must understand that they are concentrating on what we know to be elephant structures, i.e. Chikaduk and Bengash (and I think he mentioned a third, name of
which escaped me). When they are finished with those, the others will be looked for.
6. Then, with no provocation from me, he said the following (my comments and questions, condensed, will be interjected):
We (Mill) were not hired at all for doing investor relations. As things have developed, we have simply inherited that function. We are not and investor relations firm, rather we are an organization with expertise in dealing with brokers, corporations, firms, mutual funds and other institutions on behalf of our clients. That is our forte', and we have been at it for many years. That is all we were hired to do. Neither George Harris nor we
anticipated we would be besieged by all these proactive shareholders on the Internet. So, as I say, we have sort of inherited it, because George asked us to do it after this problem, and we are doing our very best with it, it is a learning experience for us. Question: why doesn't George hire someone else for investor relations? Well, we are doing it as best we can, and we are learning. That's all I could elicit from Gary on this particular
matter. Further statements on this general subject by Gary, all volunteered: Basically, what we do is "spread the word to brokers". We also answer inquiries by funds, institutions and the like, and keep them informed. 90% of the calls we get are from brokers, mutual funds and the like. That is our forte', that is what we normally do and what we were hired for here (repetitious of the above). We help on acquisitions, mergers and the like, and
generally in the field of the relations our corporate clients have with other corporations, institutions, etc..
Conversation closed at this point, Gary said he had to go. I could hear people trying to get his attention in the background. Hope the above will be helpful to everyone.
Gene
Subject: Re: Genelawyer's Conversation With Gary (cont)
Date: Mon, Dec 8, 1997 19:08 EST
From: Bouhafa
Message-id:
Posted with permission.....
7. I said, look, you have a lot of anxious stockholders here, whom you keep in constant suspense with tanalizing references to Great things to come. Let me give you an example of how they, including me, draw inferences from what you say: You told me recently that the dog and pony might start in December, but maybe in January, because you would have to travel, and did not want to miss Christmas and new years parties. You also told me that in your
opinion the dog and pony would be a waste of time if the J. V. was not announced first. From this I inferred, and communicated my inference to the A. 0 L. crowd, that you were saying the dog and pony would start in early January at the latest, and that you were facetiously saying you did not want to go traveling and miss the celebration parties that would be happening when the stock went toward the moon. It sure sounded to me like that. Were my
inferences right?
No. You know there are parties during holidays. I don't want to miss them, if I can help it, but never would defer any necessary business activity for a party. But that's what you said to me. What did you mean? I just could not get a straight answer. I said ok are you still saying that starting the dog and pony before announcement of JV would be a waste of time? Answer: Let me say this: If the dog and pony starts, it will not be a waste of time. Q:
Then you are saying that it won't start without first announcing the JV? No. I am just saying that regardless of when it starts, it will not be a waste of time. You said it would be a waste of time in your opinion without first announcing the JV : Remember, you said that, not I. Why is my inference wrong? Response: Remember, that was only my opinion. Whenever george starts the dog and pony, I assure you it will not be a waste of time and that is all
I'm saying and will say no more. ( the foregoing is not verbatim, but is accurate, the gist.) Gene |
