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Microcap & Penny Stocks : SCTU - SC & T International Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Michelle H. who wrote (421)	5/1/1998 2:56:00 AM
From: Mr. K	Respond to of 741

If Toback had no reason to resign at that inopportune time I would expect a law suit by SC & T against Toback. The resignation of Toback, days before the 10Q was due, caused the Nasdq to delist SCTI which brought the stock from .70 to .01. I would think that would be grounds for a suit against Toback??? Toback won't comment (can't blame them).

To: Michelle H. who wrote (421)	5/5/1998 1:25:00 AM
From: Jim Johnson	Read Replies (3) \| Respond to of 741

Michelle, I was holding SCTI at the time of the audit firm bailing out. I am surprised there was no suit filed at that time. I think maybe a part of their decision was based upon the share offering that was sold offshore. Just prior to the audit form backing out I spoke to management at SCTI regarding the offshore stock sale. They told me at the time that their prior marketmaker would only handle the issue if they agreed to invest a portion of the money from the proceeds into another issue they were attempting to sell. When they refused to invest in that issue, the marketmaker refused to handle their offering. From what was explained to me, it is kind of like having a loan refused by your regular banker....once he refuses it, no one else wants it either. Anyway, they needed to sell the offering so got involved in a deal to sell offshore...there were far more details I do not exactly remember now, but the whole thing did not bode well for SCTI in the long run. About that time there was an article published that the mafia was involved in SCTI stock deals.....so all in all they may well have wanted to remove themselves from the company to keep from getting dragged into who knows what. Possibly, given the situation, the company atty did not feel they had a winable case. So goes the world of the pennies..... Jim J