To: Milk who wrote (4663 ) 5/8/1998 3:41:00 PM From: campe Read Replies (1) | Respond to of 6654
We have been getting SO many contradictions it ain't funny anymore. First Jack says Reg S only as a last resort. Well while he was saying that, he was also doing it. Then, he says CVI does not believe this type of financing will be necessary again . Then in April, he sneaks out some more Reg S to the tune of another 100MM shares. Shares of which he is NOT authorized to issue since the cap was set 150MM per the April 14th news release. Why didn't they just raise the Authorized value to 1B then, just to make sure? He says he has LONG TERM investors waiting on the sidelines for future acquisitions, then issues Reg S for future acquisitions... He says he'll update the loyal long term investors by the end of April and we're now going into the second week on May. He tells some news is coming soon, other he tells news next week, and yet others, he says he won't commit to a date...yada, yada, yada...Jack , forget about going for the Home Run, just work on getting a Base Hit! Acquire or Merge WOTD, acquire the first ma 'n pa, show some earnings, file some SEC reports and take it from there. You need to restore shareholder value and confidence. With this back door maneuver, I gotta admit, I definitely lost some confidence. I sold about 1/2 my shares. I may get them back at a later point, but at this point my risk tolerance has being violated. I'm keeping the other 1/2 so I can stay involved, vote with KAA, and even join in any lawsuit if it comes down to that. Jack , if you feel you lack street business knowledge, all you got to do is ask those who may have it. The book I reads says that a wise man has MANY counselors. Thanks y'all, for allowing me to vent...