To: Spider Valdez who wrote (11905 ) 11/16/1998 7:32:00 PM From: EL KABONG!!! Read Replies (2) | Respond to of 26163
Spider, I have read all 129 pages, twice! I am not by any means a lawyer, or a legal eagle or a paralegal. I have some high school business law courses and some college level business law courses. Not enough to be degreed (not that I'd want to be), but enough to comprehend legal proceedings and terminologies.you will crucify shareholder because you have not the courage to face company or company lawyers As I read the transcript, I couldn't believe the courtroom strategy employed by the company. If I were a shareholder, I'd be ashamed to admit it. This is not a bash of AZNT or its' business prospects, but my observation and opinion of how ill-prepared they were for courtroom proceedings and on what I see as an ill-conceived game plan when they were on the offensive side of the ball. As I said, I'm not an attorney, but I certainly wouldn't be afraid to face off against your company lawyer(s). To start, they failed to lay any foundation whatsoever in exhibits as to the true nature of the business of AZNT. They failed to provide unbiased definitions to the court on the precise meanings of the stock market terminologies (for example, shorting or short's squeeze ) they planned to employ in the testimony of the CEO. They failed to provide documentation linking the alleged facts (from the AZNT perspective) to the unbiased definitions so that the court could easily see AZNT's viewpoint of being wronged. They failed to provide independent documentation on how the entire process of issuing stock is supposed to work. They failed to provide the court with adequate documentation on the differing types of stock (such as free trading versus Reg-S versus 144). They failed to provide the court with copies of NASDAQ regulations and guidelines. They failed to provide the court with documentation that would differentiate between NASDAQ and OTC-BB (and NASDAQ Small-Cap). They failed to provide the court with SEC regulations regarding shorting of OTC-BB companies. They failed to provide the court with any reasonable estimate on how badly (dollar amount) the company was harmed by Andy Mann's alleged actions. They failed to show the court in any manner whatsoever how shareholders might have been hurt by their version of what transpired. And on and on and on... In my opinion, a first year law student might have prepared a better case than what I saw in the transcript. The CEO's testimony, especially on cross examination and re-cross examination, showed that counsel had done little to prepare him (the CEO) in how to respond and how to phrase his responses. At times the testimony read like the whimpering of a frustrated child, rather than a calm and prepared executive. AZNT almost had a lock-in on strategy. All they had to do was show the court that they were wronged, and they didn't know by who and then let the respondents fight it out amongst themselves for varying degrees of responsibility. Simply play one party off against the other and let the opposing side make your case for you. But they didn't even have the foresight to name the DTC as a respondent, in my opinion a blunder of unimaginable proportions. It is my viewpoint that at this juncture, plaintiffs may have little credibility left with this particular jurist, and whatever chance AZNT had of an undisputed win is certainly diminished if not outright gone. I eagerly anticipate the next chapter of this ongoing saga. Would someone who is an attorney care to comment on my observations and opinions? Thanks. KJC