LAST POST on this thread:
In my second post (#189) I said that I would "leave this thread" if asked, but no such request was forthcoming. So I continued to question the wisdom and accuracy of the company's actions and statements. I never "attacked" anyone or alleged any impropriety (carefully check my posts again); I certainly didn't call anyone names or question their loyalty to shareholders. I simply wanted current shareholders to demand accountability from current management and, to this end, not to accept pleadings that the company is in "a new management phase," especially since the old president is now the current chairman.
Despite this, it is apparent that one cannot do this on this thread without becoming the subject of personal criticism. For this reason, I have decided to leave this thread and never again post here again. I sincerely hope that current shareholders will succeed with the company, but my experience teaches me that unless you demand excellence, you often don't get it. It would be good if somebody subscribed to Canada Stockwatch, then they could access all the old press releases that I quoted in the last week. Remember, Wilfred Shaw and Dan Masters are nobody special -- they're your agents and employees. Hold them accountable!
Leroy, wanna meet for lunch sometime at Moose's, know it?
Before departing forever, though, I thought that I would demur and compose a thoughtful reply to Brett's knee-jerk and offensive rant.
A.Brett, you explain:
The release you speak of was apparently issued without the knowledge or consent of Mr. Shaw.
Oh, come on! He's the president of the company! Does Mr. Shaw have "knowledge or consent" or the company's current releases? I mean, how would we really know?
What is more, your explanation doesn't make sense:
I have a Small Cap Equity Research report I received from the company, dated March 1996. It quotes Mr. Shaw as saying:
To the management of MIS, this reality spelled opportunity. "It occurred to us that this segment of retail was hopelessly inefficient. If we could take their [auto dimantlers'] inventories and mesh them with a modern, professional retail system, then we could really transform precepts about the auto parts after-market," said Shaw. "We saw what J.D. Byrider was doing for the used car market and were convinced that we could do the same thing for used parts." Since November of last year this is precisely what the Company has set out to achieve.
The next paragraph begins:
In late February, the Company came to an agreement with Mr. Frank Copley, the proprietor of Wheel To Wheel Discount Parts and Service Center in Coquitlam, Canada. MIS's purpose in entering into this agreement was to expedite the acquisition of the technical and managerial expertise necessary to develop a viable franchise concept.
I guess that Mr. Shaw didn't approve of this also; is that why his company sent me a copy?
Incidentally, the same report praises Dan Masters' expertise (although not yet with the company) and quotes him as saying:
The margins demonstrated by their (pre-existing Wheel To Wheel) store are superior to other popular repair franchises. In this respect I think they have the potential to do very well.
What store?
B.In a prior post I quoted their press release:
MIS Multimedia Interactive Services Inc
MIS
Shares issued 6916443
1996-10-16 close $0.62
Wednesday Oct 16 1996
Mr Masters reports:
The company has accepted five deposits for new franchise locations for its Wheel to Wheel retail operation. Negotiations are also progressing with potential area developers for six locations in Calgary and three in New Brunswick.
You explained this by saying:
MIS has decided to buy an existing auto retailer rather than start from scratch...
Well, is this true? The following remark (18 Feb 98 see Leroy #179) is attributed to Dan Masters:
We began our automotive deal last summer (1997).
The company's 23 April 1996 press release says:
The company will launch its upcoming franchise show in Mississauga, Ontario. This effort gave rise to the October release. But this was eight months before the company began the auto deal. Pretty curious behavior for a company that calls itself a "franchiser."
C.Also you proclaim somewhat dogmatically:
Ex shareholders never under any circumstance post like you do
Oh really, how would you know? You signed up last week, ostensibly just to reply to my posts. You've posted nowhere else and to nobody else. Besides, you're simply wrong. Go look at any one of the 5 Bre-X sites (where I have posted and an "ex" shareholder) or just look at my posts for GGP, another bad investment.
Stop trying to impune my motives. Concentrate instead on the facts. I know you have difficulty doing this because you have no objective information sources. All you have is "the company told me," "Dan says," or "I am told."
Anyone who doubts my truthfulness is invited to look at my first main post:
www3.techstocks.com
And, once more in my second:
www3.techstocks.com
They'll see that I have relied on independent sources of info, and these all indicate that there is more at issue than the company --or its current adherents-- choose to acknowledge. What you should be doing is encouraging the company to disclose everything (like it would have to have done if it stayed on the VSE) instead of handing out all the "facts" piecemeal.
What other stocks do you like Brett?
I initially stated that MIS moved to OTC from the VSE because the exchange had the audacity to ask for a business plan. You "corrected" me by stating that I was incorrect and, in point of fact, an unnamed person (not a director of the company) moved it to the OTC market. Please observe the following:
MIS Multimedia Interactive Services Inc
MIS
Shares issued 6916443
1996-10-02 close $0.43
Wednesday Oct 2 1996
Effective at the close of business October 16 1996, the common shares will be delisted from the VSE at the request of the company. The common shares of the company will continue to be quoted on Nasdaq Pink Sheets. An unresolved filing issue relates to a letter of intent to acquire the rights to the Wheel to Wheel Discount Parts franchise system, as announced in the company's news release dated February 29 1996, and whether this transaction constitutes a change of business. At present the company has not provided sufficient information to the exchange for which a determination on this matter can be made.
I guess that Wilfred Shaw was had no idea about this too.
D. You acussed ex management of being the subject of a BCSC investigation. My reply:
....none of the past principals (everyone mentioned in the press releases and annual reports) of MIS has ever been the subject of a disciplinary hearing by the BCSC -- including Wilfred Shaw. Don't belive me? Email them yourself and ask. I though of that long ago. Here the location: [url]
Your reply:
Also, the ex MIS officer was under investigation not part of a disciplinary hearing you twisted the words good on that one. Almost got me but I read your post again and asked the company.
Well, I'm not that clever Brett. Of course they don't tell you who's been under investigation -- that way they avoid people trying to red-bait others. This is the same practice followed by the SEC. For example, I could email the SEC and say 'Somebody' is advertising on the globalminerals.com site and its proprietors are coincidentally touting his stock on the SI, and they would investigate. Imagine then, if I then emailed a reporter that "'Somebody' was under investigation." The reporter would phone the SEC to confirm and the next day -- guess what -- 'Somebody' would be smeared, which, ironically, is what you were attempting to do.
I would accept the fact that there was no "disciplinary hearing" as evidence that: 1) there was no wrongdoing or 2) there was no evidence of wrongdoing. Either way, you're allegations are equally meaningless.
Finally, this is the best little factoid:
MIS Multimedia Interactive Services Inc
MIS
Shares issued 6675743
1995-09-12 close $0.74
Wednesday Sep 13 1995
Mr Wilfred Shaw reports [well, it says Wilfred Shaw, maybe he didn't know about this one either!]
...the company has entered into a letter of intent with IG Sendirian Berhad in Malaysia for the sale of a RADD Multimedia master franchise licence agreement for Asia, excluding Japan, Philippines and Korea. IG Sendirian Berhad is owned by Tengku Osman, prince of Malaysia, a member of the royal family of Malaysia.
Whatever happened to this deal? Maybe the prince likes pretzels too! <g>
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