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To: s martin who wrote (3184)8/31/1998 9:39:00 PM
From: MY OPINION  Read Replies (1) | Respond to of 26163
 
*******OFF TOPIC**********

Where is tonto? Noticed he hasn't posted since Aug. 27

TIA

edit: I don't own this stock, so please don't assume i do.



To: s martin who wrote (3184)8/31/1998 11:01:00 PM
From: Mr. Forthright  Read Replies (2) | Respond to of 26163
 
Sorry s martin but I feel I have to refresh your memory on that one. bmart, bgtit and others explained that Mann got the stock so he could sell it a private placement. In other words, still according to company supporters on this thread, the company issued and delivered stock certificates for which it had not received payment. Just imagine Morgan Stanley receiving $1 billion worth of U.S. Treasury Bonds without having to pay for them. What's a few billions between friends?

What I would like to know is where did the proceeds from the sale of these shares go if it didn't go into the company? I would also like to know how the company accounts for issued but unpaid stock in its financial statements.