To: wallstreeter who wrote (4345 ) 5/23/1999 11:14:00 AM From: SCOOBEY-DO Read Replies (1) | Respond to of 4767
Hi Marcus, Thanks for communicating with Doug and passing back his information to the thread. I totally agree that bashing the company does nothing but hurt the company and its shareholders. I don't agree that ETPI is Doug's company. It is a public company in which he is the major shareholder. He could own the same number of shares while ETPI had another CEO. We might own a fraction of a percent, but we still own a part of the company and Doug should be acting for the benefit of all shareholders, since he is being paid by ETPI. I agree that if there is depreciation that can be legally taken in 1999 it should be. What division is the depreciation tied to? If it is an operating division, the depreciation would apply to the division and most likely will result in a loss for that division. If it applies to a division that has been closed, it will be considered non-operating expense. Paying $10,000 to each board member is a little steep but it depends on what each member has to bring to the table. I worked for a mid-west bank with branches in four states that paid $6,850 per quarter plus $800 for each meeting that they attended. My vote probably won't get to ETPI in time, but I voted against Leonida Butcher, Douglas Miller and Gobind Sahney. I tried to call in my vote but the voice said that I was to late to vote and hung up. I am against Leonia Butcher sitting on the board because she should be doing everything possible for the company without being paid for it. We have SI members that have gone through the 10-Q and offered advise without being paid. I voted against Douglas Miller because his background stinks. Anyone can hold licenses in Securities, Real Estate, and Insurance. I took the Real Estate test and passed the first time just to see if I could pass it. Gobind Sahney should be ashamed of the financial statements that are produced by ETPI since he graduated with dual degrees in Finance and Accounting. Does he even look at the reports issued to the SEC? It is easy to graduate with an accounting and finance degree without knowing how to use the knowledge in the workplace. I passed the CPA exam, but would not be qualified to sit on the board of a successful company. I want ETPI to be successful. I want to thank Toby and Kelly for taking the time to review the 10-Q and reporting back their findings and thoughts. SI members from different walks of life see the 10-Q from different angles. They pointed out important items. I sent copies of these reviews to Doug in the hopes that he would find something useful to help run the company. I have stopped reading posts from nospaces. They are not worth my time. I have 30,000 shares of ETPI. I used to have 85,000 but I averaged up over time. I would have sold the remaining shares but I have friends that I talked into buying ETPI and I have to look after their interest also. Marcus, thanks for letting me share my thoughts. I do appreciate you communication with Doug and bringing your findings back to the thread. It seems to be a thankless job, but I will give my thanks. Sincerely, Scoobey