Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : RMS TITANIC INC (SOST) -- Ignore unavailable to you. Want to Upgrade?

To: Michael Paul Langley who wrote (124)	1/27/1999 9:53:00 PM
From: Sam Biller	Read Replies (1) \| Respond to of 217

Based on the action in the past week, I am hypothesizing that this stock is being accumulated by certain insiders in hopes of overturning the current CEO. I have made a few purchases in the $1 - $1.25 range as a pure speculation that this company will be taken over and possible bought-out. Here is an extract from the Schedule 13d filed in Oct. of 1998, ITEM 4. PURPOSE OF TRANSACTION. As noted in the Original Schedule 13D and in the Voting Agreement, the purpose of the Voting Agreement was to assure the service of a qualified and competent Board of Directors by electing George Tulloch, Allan H. Carlin, Arnie Geller, G. Michael Harris and Kurt Hothorn as Directors of the Issuer. To date, no such Board of Directors has been elected. Accordingly, on October 21, 1998, Mr. Geller sent a letter to the signatories to the Voting Agreement (the "Signatories") stating that the consideration for each party to enter into the Voting Agreement has not been satisfied (i.e., the designated Board of Directors has not been elected), and therefore, the Voting Agreement is null and void. Thereafter, each of the other Reporting Persons sent similar letters to the other Signatories. Mr. Geller, Mr. G. Michael Harris and Mr. Joslyn, the sole director, sole officer and sole shareholder of Westgate, are contemplating forming or becoming part of a group that will acquire additional securities of the Issuer for the purpose of effecting a change in control of the Issuer through a change in the present Board of Directors and management of the Issuer and/or through other means. I think this takeover to effect change in conrtol of SOST is taking place. Sam (IMHO)