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Microcap & Penny Stocks : Universal Medical Sytems (UMSI) -- Ignore unavailable to you. Want to Upgrade?

To: HG who wrote (1150)	2/14/1998 11:06:00 AM
From: JPS	Read Replies (1) \| Respond to of 1672

HG: If a reverse split was on the horizon wouldn't they have to get their financial house in order? I would wonder how much latitude the SEC allows these BB companies when it comes to things like a split? We are still dealing with the publics money and such as that is the case some accountability (10K) would be in order IMHO.

To: HG who wrote (1150)	2/15/1998 7:26:00 AM
From: Laurens	Respond to of 1672

You still seem to be interested in finding out what is happening. As you know I have also been curious what goes on, since UMSI management has kept mum in spite of their repeated promises to issue financials in November/December,which they have not done until now. I think I did found out a heck of a lot. Only to be met with disbelief from certain contributors at this thread doubting my motives in trying to bring the truth out.I know that the messenger of truth is not always welcome,but I assure you it was my only motive. Many times I have shared info sources that only needed to be called for further insight.(Since I live overseas I will not spend more money than the value of my entire UMSI stock on transatlantic telephone calls, when we have so many fellow stockholders stateside who are able to place these calls easily). You say you still doubt whether UMSI was evicted, though I reported that they were.(Gene confirmed this also). I can assure you that we are correct.One fine morning The Pinellas County Sheriff come in at 09.30 and said everybody out. Then they changed the locks in the building. Since we cannot call their offices anymore, I have given this thread the private telephone numbers of president Myron Baker and his two execs. Skaar once called Mr. Baker ,but the party replying said Baker was at the airport. He would return the call. Skaar reported that he never did. So if you do care to get info call Mr. Baker at 813-785-1741. If they are a bonafide bunch, surely he would not mind your calling him as a concerned stockholder trying to get some long awaited information. Especially since we cannot call the company in the normal way through their office. My scenario is simple: UMSI management may have had some smart ideas about getting a unique scanning business together, but they were not able to work it out.This happens sometimes. Usually the Board of Directors will step in and if necessary get a new CEO to repair the damage. Now looking at the court cases; these "funny" stocksales by executive Cole; the false promises to issue reports;the debts they did and do not pay, all this does encourage a feeling that there is a threesome managing UMSI, which regrettably appear to be not so bonafide as they should be. Otherwise they would have come out and said:Look stockholders:" We are sorry, but we ran into this and that trouble, and this is our plan of action and correction." I can live with that.We all make errors sometimes. As far as the stock movements are concerned,management may still be selling co.stock since there is, I hear, no alternate source of income. I believe that there are traders / speculators who will pick up an occasional bunch of "cheap" stock and hopefully wait for the nickel,in this case, to become a dime,and sell to make a quick profit. I feel that,given the situation ,we cannot but shortly hear that the SEC has put a stop to trading. That will be the end of the UMSI story. And another lesson learned. I will be really curious if you are sufficiently interested to make that call to our company's president, the more since Gene has not yet been able to found out anything tangible. Your post 1146 starts with " I have not get a clue" and ends with "I do not know!" Perhaps your calling Mr. Baker might change this.