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Microcap & Penny Stocks : IMES -- Ignore unavailable to you. Want to Upgrade?

To: snowman49 who wrote (1450)	3/11/1998 12:19:00 PM
From: Gary Stern	Read Replies (3) \| Respond to of 1901

Listen folks, and I don't mean in any way to be condescending, but something is obviously rotten in Denmark. Aside from rent and salaries this company cannot have significant general unsecured debt to trade creditors. Chapter 11 was filed for a purpose that is not obvious to ordinary common shareholders. According to the company releases Hoevel and Neches resigned from the Board of Directors a few weeks before the filing. I am willing to give odds in a significant wager that they will surface as principals in a "new" business that will gain control over IMS. The Bankruptcy Court will be asked to give its blessing to the transaction, so as to avoid subsequent shareholder suits claiming that its valuable assets were improperly taken. Shareholders will be given some minimal equity in the "new" enterprise and will be dealt with in the Plan as an "impaired" class. If the common shareholders vote to reject the Plan an attempt will be made to "cramdown" the proposal. In other words, if the Bankruptcy Court were to find that the common shareholders get the same or less under the Plan as they would get in a liquidation the shareholders will be forced to take it. It strikes me that absent concerted organized shareholder resistence, the Hoevel and Neches deal will happen right before your eyes and you won't even notice the sleight of hand. GET COUNSEL NOW, COMPLAIN TO YOUR CONGRESSMAN, DO SOMETHING - BUT DON'T BE HEARDED ONTO THE CATTLE CAR BOUND FOR THE STOCKHOLDER'S AUSCHWITZ - in silence.

To: snowman49 who wrote (1450)	3/13/1998 5:35:00 PM
From: Greg Werner	Read Replies (2) \| Respond to of 1901

Latest rumors......... If the latest rumors are true, every shareholder needs to examine their own position and decide whether or not to take action. To me this has always been a fairly activist board. We now seem to be falling apart and sitting on our thumbs precisely when action needs to be taken. Let me see if this changes your mind. The rumor mill would indicate that certain executives of this company are in the process of taking your company away from you. There may already be a corporation set up that will inherit all of the intellectual property that IMES owns. It is possible that employees are already being transferred to this corporation in the anticipation of the bankruptcy plan being rammed down our throats. You and I will be left owning little or none of the new private company. "But what can I do?", you might ask. Here are some suggestions. 1) The legal fund that Rich mentioned earlier will be used to battle any predatory actions by officers or board members of this company. Please consider contributing at least $100 to this fund. Tom Childs and his group have already gone out of pocket thousands of dollars fielding calls from shareholders and retaining an attorney to assist you and I. 2) Get the word out to all shareholders. We are definitely going to get fleeced if we bury our heads in the sand. 3) Call your elected officials and get them involved. 4) Call the SEC. 5) Call the Attorney General's office in your own state or in Texas. On the other hand if you are willing to accept 2 or 3 cents for each of your shares, bend over and let the scammers give it to you. Greg Werner