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Microcap & Penny Stocks : IMDS nasdaq bulletin board -- Ignore unavailable to you. Want to Upgrade?

To: Labrador who wrote (3016)	3/29/1999 9:41:00 AM
From: kenita	Read Replies (1) \| Respond to of 4122

Labrador, I think Wally left out a crucial part of the Valey Kamolov story. Also from 10Q ITEM 1. LEGAL PROCEEDINGS. "On July 10, 1997, the Company filed an action in the Circuit Court of the 17th Judicial Circuit in and for Broward County, case no. 97-10533, against Dr. Valey Kamalov ("Kamalov") and Irina Struganova. The complaint alleges that Kamalov, an ex-employee of the Company, violated his employment agreement with the Company while employed and after terminating his employment with the Company by violating non-compete, confidentiality, and invention covenants of the agreement." BUT "Due to the substantial legal expenses incurred and to be incurred by the Company in proceeding with the litigation, the Company entered into a settlement in December 1998. Pursuant to the settlement the Company was required to and paid the sum of $90,000 to the Defendants." The judge ruled in Dr. Kamolov's favor. I believe there is/was a gag order on this case. Valey Kamolov was one of five emplyees who left IDSI in 1997. Three software engineers, (One was the lead software engineer) and IMDS's general council, replaced by Rebecca DelMedico. Start a procceding and end up paying the defendant. Now THAT is good management.