To: MoneyBaggs who wrote (2628 ) 3/20/1999 2:55:00 PM From: Suzanne Newsome Read Replies (3) | Respond to of 5541
I received a PM this morning asking why I hadn't posted recently. Then just before going offline, I went over to RB only to read that someone thinks I am the basher that has caused such a commotion over there. So if you want a post, here's a post. First of all, the poster on RB that I am accused of being is one of the rudest, most foul-mouthed individuals I have come across in cyberspace. He has single-handedly almost destroyed a thread that used to be informative. To say he has been a royal pain in the derriere is the grossest of understatements! For someone to imply that he and I are the same person—that was a real "knock-out" insult. And the joker can't write! I suspect he violates that oldest of cyberspace rules, "Post, then drink." Basically, I have lost faith with management. Since last fall, management has been promising they were going to file with the SEC "by the end of the month" or "in a couple of weeks." Here we are 5-6 months later and still no filing. Management had no intention of filing last fall. All they had to say was that they would file after they sold "Speedway Junky." I would have accepted that. But they have repeatedly lied on this subject. My second problem with management concerns the number of closely held shares and the float. According to my hand-written notes of a conversation with Jeffrey Volk on 9/25/98, outstanding shares were 90-95 million, float was 30-35 million, and closely held shares were 55-60 million. Compare those numbers to my conversation with Clint Cantwell on 2/5/99: 97 million outstanding, 80 million in the float. Someone posted after this date that that Golan, Globus, and Benz owned 13 million options. So, how did closely held shares go from 55-60 million shares to 13 million options? Either management lied like a dog or sold tens of millions of shares into the public float. And we wonder why the price has gone down. Someone quoted Benz recently saying he didn't like these stock threads. Why would that be, Peter? Is there any reason for you to be uncomfortable having your statements quoted in public forums? What will we find in the SEC documents? Anything you are worried about? Anything you need to get done before those documents come out? If the SEC walked into your office Monday, the documents would be in the state of readiness you claim they are, wouldn't they? OR, is it really going to be June before any documents are filed (my most generous theory)? I still own MVEE. I have not posted on the thread because this is what I had to say, and there are a lot of fine people who own this stock at much higher prices. But management needs to get the message that stockholders are not going to put up with the BS we have tolerated in the past. Regards, Suzanne