To: michael d kugler who wrote (32305 ) 1/2/1998 5:41:00 PM From: Riley G Read Replies (1) | Respond to of 55532
OFF Topic...NYER Twist this one around to fit your needs also! Riley G --- Subject: Nyer Medical (NYER) 23 3/8 up 10 in 2 days!!! To: Phil Ancona (189 ) From: Riley G Saturday, Dec 28 1996 8:44AM EST Reply # of 325 Copy of letter sent to SEC Enforcement unit: I am writing to you because I have been getting several different answers to my questions regarding the NYER Medical (NYER) spin-off of Genetic Vectors (GVEC). Back in May 1996 I bought some 11,600 shares of NYER for over $318,000 US Dollars in my personal account for the reason of the stated spin-off IPO to SOR on 5-31-96. At COB 5-31-96 I was the SOR on 10,000 NYER shares and according to all published news from the company and SEC filings, I would be getting 1 share of GVEC for every 6 shares of NYER owned on 5-31-96 . Well I sold my NYER shares in mid to late June as I was down some $95,000 dollars from the buy in price, knowing that I would be getting my 1,666 spin-off shares on a yet unnamed paydate. Well it looks like that pay date was set on DEC. 20th, 1996 and now I hear that only shareholders on 12-20-96 are the only ones getting the spin-off shares of GVEC. This comes from NASDAQ from what I hear, and I have never heard of this before in spin-offs, I do know that stock splits are a different matter and it's the pay date that counts, not SOR. I talked with several NYER personnel before the pay date and they confirmed that I would be getting the shares, but now nobody seems to know anything about that. I have read all the SEC filings from NYER and they all point to me getting the shares, but from what I reading elsewhere I hear this is not the case. Can you clear this matter up before I take it to my attorneys for further legal actions against NYER, GVEC and NASDAQ. ------------ End------------ I think the main reason for the run around it that the MM shorts got caught with there pants down in this matter. If there were over 800,000 shorts with MM on COB 5-31-96 then they owe a lot of GVEC stock, but if the NYER short postion was 0 on 12-20-96 they owe nothing. Seems that NASDAQ has done something wrong here as all the SEC filings state that SOR date is 5-31-96 with a paydate of 12-20-96. BTW when the NYER-GVEC spin-off was announced back in May 1996 the pay date was left open. A phone call with Sam Nyer was recieved by me and he stated that he and the attorneys are fighting NASDAQ on this matter for the SOR of 5-31-96 to get their GVEC shares and not the 12-20-96 shareholders. It's time for all us 5-31-96 SOR to fight for what is ours! Riley G -------Message from michael d kugler on Jan 2 1998 4:59PM EST Ok, let's drop it. But let's talk about why you take so much delight in SMartin and myself talking negatively about SGA Goldstar,(whose main man is in jail) when these are the same people Riley blamed for why he was so very wrong about NYER?