To: Greg Werner who wrote (1473 ) 3/19/1998 1:22:00 AM From: Larry Huang Read Replies (1) | Respond to of 1901
Greg, From reading your chronological posting, it appears the investors have been sold a "bill-of-goods" by a group akin to used car salesmen. It might be interesting to find out the incorporation date of IPIQ. Would it be coincidence if the date were between 2/1/98 and 2/17/98? Would it be of less surprise if IPIQ was incorporated between March 1997 (when Lee became president) and 2/17/98? (Readers of this thread are probably not aware of Lee and Phil's association prior to IMS.) As chairman of the board that approved this business maneuver, Marty Albert is knowledgeable of IMS' direction. Readers of this thread, myself included, may be curious to know how he is benefiting from his $13M+ investment and position as majority shareholder. As advisor/manager/director/sole general partner/President/CEO of investment funds/groups, e.g., Paragon Capital, Amerscan Capital Management, Amerscan Partners III, etc., Marty must have some sense of fiduciary responsibility. I doubt allowing investments to diminish to 6 pennies on every invested dollar (or less!) is an acceptable financial goal for anyone. Regarding the SG/Thompson, Cadence and ZSP deals (the only three publicly disclosed), deals of this magnitude, in general, take time to cultivate - usually months. The financial value of these deals is hard to estimate, but I wholeheartedly agree with Ken and others that IMS' potential worth is much, much more than the $135K "sweetheart deal" that IPIQ is attempting to execute. Some of the CAD software licenses alone are worth several million dollars. Are there possibly other deals in IMS' pipeline that may be diverted to IPIQ's bank account? Larry