To: Anthony@Pacific who wrote (7360 ) 1/30/1999 12:05:00 PM From: Mammon Read Replies (2) | Respond to of 122087
Anthony, you jumped on the news about PRFM's CFO resigning prematurely, without having done any DD. I posted over on the PRFM thread about this if anyone is interested. According to SEC documents, Simon Fralic had "relinquished" his position as president of PRFM in 1997. According to SEC documents, as of 5/98, Simon Falic, age 37, was CEO of PRFM and Ron Friedman was the CFO. According to the 12/98 10-q, Simon Falic had been replaced as chairman and CEO of PRFM by Ilia Kelach, who is also chairman and CEO of Parlux. (and according to Hoover's, whose family owns over 50% of PRFM.) [Parlux manufactures and distributes fragrances for PRFM and, among others, Dillards and Neiman-Marcus.] According to the SEC documents, Simon had been the CFO, Treasurer and Secretary of PRFM for only 2 1/2 months. Reading between the lines, (which even shorts can do) it is clear that Simon Falic has been on a steady downward spiral at PRFM in his job positions. Ilai Kelach, whose family owns over 50% of PRFM's shares, is now Chairman of the Board and CEO of both Parlux and Perfumania. Another poster on Yahoo, whose post was replicted on the SI PRFM board, and who seems familiar with the situation and the family, states that Simon Falic is [perhaps not for long?] Ilia Kelach's son-in-law. (I have no confirmation of this.) He further states that Simon was asked to resign from a board within the company two weeks ago, which precipitated this situation. You came on the PRFM board implying financial shenanigans, when it looks after some dd to be a complicated family/control/power issue. I admire your integrity on the Tmex issue and would appreciate your doing more dd in the future. Furthermore, on a slightly different note, you and your followers might want to consider that there IS value on the upside. I remember that you said on your board (when PRFM was in the mid-single digits) that PRFM was a POS. Your followers missed an easy double. But they got two points yesterday on the downside!