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Microcap & Penny Stocks : Zulu-tek, Inc. (ZULU) -- Ignore unavailable to you. Want to Upgrade?

To: joseph magaraci sr who wrote (5081)	3/30/1998 1:07:00 PM
From: mjk	Respond to of 18444

Get a copy of Ad Age, issue date March 23rd. Here are some excerpts: SOFTBANK WOES RATTLE CLIENTS OF WEB AD FIRM Management turnover, lawsuits, growing client concerns and bad publicity are casting a shadow over Softbank Interactive Marketing. The internet ad rep company has lost virtually all its top executives since its Dec 31 acquisition by Zulu-tek.... ...The changes - and uncertainty surrounding SIM - are troubling key clients such as Netscape and Mapquest. "We do not know what Zulu-tek has planned, or what they have been doing" Mark Evans, Ad Director for Netscape.... Gordon Simpson, SIM former director of European Operations (left company),"We had concerns about the way the operations were being run, and about the financial stability of the ongoing business" Mr. Simpson said the new owners failed to provide adequate financial support for the European operation, contributing to the loss of their biggest client, Altavista.telia, which is now sueing Zulu-tek in London's high court... Also proving worrisome for SIM are questions about the role of Pattinson Hayton, believed to be one of Zulu-tek's key advisers. Mr. Hayton has a judgement totaling $3.7 million entered against him in 1997 on a fraud claim by Colorado software company, Apogee, and was fined by a federal court for violating an order to file documents with the SEC. Mr Hayton has denied he has an ownership interest in Zulu-tek and said he has no involvement in the day-to-day operations of either Zulu-tek or SIM. But Mr. Simpson said that Mr. Hayton "quite clearly called the shots. In meetings we had, it was quite clear Pat was in charge of Zulu-tek". There is a lot more. Get the Ad Age issue! (I don't know if it is available online)