To: Wayne Anderson who wrote (1569 ) 4/5/1998 3:09:00 AM From: Thos Read Replies (2) | Respond to of 1901
To Wayne and All You know, for those like Wayne who want the cake and all the trimmings before you do anything to contribute - and that Wayne, includes WRITING to the SEC - as well as trying to help pay for the attorneys, I have nothing to say. The delicate sensibilities of virtually all who have a beef on this site, and then get critisized for their complaints leads one to not get involved in the discussion. On the other hand for all of you who have not only had the faith that old Wayne seems so contemptuous of - I am sorry.. there should have been more postings here, but frankly it's damned difficult to try and say comforting and/or informative things when in the midst of what amounts to delicate discussions. The fact that the people who have set themselves up to relieve you of 80% plus of your investments - for - one of the reasons - that they "don't like the former CEO and assorted directors" - and that they want to be able to provide more of the company to the staff - well, shucks gentlemen, and ladies, that really doesn't cut much ice in the public company sector. The rationale is far closer to one that makes one think of the alphabet agencies, and their strictures on obeying the law. 'Nuff said on that. We were wrong - as it turns out - abuot the 1st of April. The company is still in a position that permits a withdrawal from Ch.11 The window, however, based on the Motion on 1 April is hard to determine. It's been established that if IMES defaults on their (up to) $1mm borrowing from IPIQ, that IPIQ gets to strip the corpse of IMES within 7 days of the default. I leave it your joint and several imaginations on why that might occur, given the 18 separate means of defaulting. At least we had the attorneys add our name to the instant notification on default. No one else including the creditors will hear till it's too late. Yes - there remains an interested investor. No - there have been no substantive definitions of how and when. Yes - there is an industry participant who could step forward. Most importantly of all, Wayne, old chap, there is one hell of lot of effort to bring this whole thing to a positive conclusion going on, in the face of some very well organized and financed people who want to take your investments away from you, and who have been planning this for quite a while. I will try to be a little more informative - as possible in the future. I repeat our gratitude to those of you who have helped with the attorney. No doubt the Wayne variety will chuckle delightedly on this, but believe it or not - we have contributed over $3k to keep the attorney happy. The SI group have contributed $1400. And I repeat, thank you all. You know - for those of you who like to take shots - for the effort that you put into managing to organize your words on this site, you could have written the SEC. Think about it ...