To: Mr. Dendro who wrote (44602 ) 3/31/1998 3:32:00 PM From: tonto Respond to of 55532
The 3 areas to be looked into further for consideration are the following: 1) Company. 2) Squeeze and trading. 3) litigation. 1)There are several options regarding the company, the simplest being contacting Gary and Roland and requesting a copy of the by-laws. If they are willing to cooperate with the shareholders, there is the possibility of moving forward without taking any action which will cost both parties money. The first step for the shareholders should be to have management make a commitment to cooperate, or if they will not, they must explain clearly why. Those with the best relationship with Gary and Roland should make a conference call, advise them of the shareholders intent and goals,(to be determined) and inform the board exactly what management's response and schedule is. 2)A shareholder should be authorized by the company to be able to contact the SEC and NASD, after they have received the proper notification that this shareholder is an authorized contact of the company, and learn firsthand what if any requirements are still lacking for the stock to trade. (Some say this stock can trade any day the company decides, and others question whether it will ever trade, let's really find out the authorities position and if there continues to be an on going investigation) 3) Analysis of what forms of litigation and against which parties may be in the best interests of the shareholders. Which parties could be named? What the costs are for certain actions and which actions may be acted upon at little or no cost to the shareholder. Litigation is an obvious route and one of last resort hopefully because of the potential cost factor unless it is piggy backed. Besides righting a wrong,(very important) what are its advantages? 1) move before potential SEC fines via civil suit and collection from whatever parties. 2) Peter Hargitay, OVIS/RMIL never pursued him although he left the company enriched at the corporation's expense. Peter has money that rightfully belongs to the company. It is worth the effort to pursue this further, last I heard he is being held for extradition to Hungary. Would like to look further into his finances. If a judgement can be brought forward against Peter, funds may be available. Why did the company let him walk so easily? Roland was around then, he needs to disclose more. This is a very broad short note on 3 areas to discuss. Are there shareholders willing to look further into these options?