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To: The Swordsman who wrote (25859)4/18/1999 9:27:00 PM
From: Ditchdigger  Respond to of 44908
 
Having followed ADGI for a while,and witnessed the CEO receiving stock in lieu of pay(as outlined in the filings) a question comes to mind..IS the salary which Gordon has supposedly held off taking,considered money he has loaned to the company,resulting in conversion to shares at .15? If this is the case, it would appear, as is the case with ADGI,,it would be in shareholders best interest to pay Gordon(in cash),rather than issuing him 3 times the amount of accrued salary in the form of stock,and further diluting shareholders....DD
PS: I see nothing in the sec filing mentioning the options could be used to pay off a loan from the ceo...could someone please paste that desription? Would seem,as in the PP, shares would be escrowed,not given in the form of options for such a loan for stock deal..



To: The Swordsman who wrote (25859)4/18/1999 10:20:00 PM
From: Martin E. Frankel  Read Replies (2) | Respond to of 44908
 
Sword,

<Boy, these doc's really are confusing. Look at what I just found. Some of these contradict what Marty has been told and some develop into more questions.
I have a difficult time believing that SEC requires this doublespeak.>

I am going to turn off my computer shortly and try and see if my wife and family are still here <VBG>, but I'm glad you finally found the "doublespeak". These were some of the issues that delayed posting the report and, yes, they were confirmed by two SEC attorneys... including TSIG's. What I posted is accurate... regardless of what anyone else on the threads may have to say.

Secondly, Ken from Vermont (AKA "Ditchdigger") has no concept of honesty or integrity. Rob Gordon took his entire salary last year although he often went months without drawing a check... and this year he has not drawn a salary check at all, but was clear in stating that it would accrue and be paid to him when the cashflow allowed it. It is not... I repeat... not a loan to the company. I saw the actual payroll sheets and confirmed it with more than one party. He has simply agreed to temporarily forgo his salary checks until the Company can afford to pay them... period. I knew Ken was ignorant (please note that I did not say stupid), but I was hoping that his intentions were truly altruistic. When I'm wrong I admit it and when I need professional help... be it for my own health or other matters... I get it. I am not a "guru" as some individuals on the threads would like others to think of them as... and I don't play "let's pretend". In posting this report I spend my own time and money in getting the help required in confirming the validity of the statements therein for my own self and chose to share it with the threads here and on RagingBull. You and anyone else can accept them or reject them or make your own calls and visits and get your own attorney.

Be Right!!!... Sit Tight!!!

Best always,

Marty