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To: Freddie Forte who wrote (24935)10/17/1998 11:15:00 AM
From: Sigmund  Respond to of 27968
 
A resignation would mean nothing. A majority shareholder can call a Board Meeting and reelect the Board and the new Board appoints him as the CEO. So being a member of the Board, and officer of the Board, or an officer of the company means nothing when you have share control of a company. Any you don't have to personally own half the shares to have control.



To: Freddie Forte who wrote (24935)10/17/1998 11:31:00 AM
From: R. Murphey  Read Replies (1) | Respond to of 27968
 
FF: Either the wrong year was quoted (i.e. he meant 1996) or the increased the number of authorized shares without notice to the shareholders.

In light of Brad's report of the transfer agent's records, I would give the benefit of the doubt and speculate he meant 4 times the 19+ million outstanding in 1996. Hasty, un-reviewed PR's are dangerous. Of course it could also be a typo by the news agency.

There are enough, other, substantial problems.


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