To: Hammer- who wrote (29095 ) 5/26/1999 7:16:00 PM From: The Swordsman Read Replies (2) | Respond to of 44908
I've been very quiet for the past 2 weeks or so. Really awaiting the results of the very civilized effort to establish Dr. Martin Frankel as a member of the Board. Almost 20,000,000 shares with names attached represent approximately 25% of the company's shares. These shares are looking for their own Board member to represent only 20% of the Board, a perfectly reasonable situation. These same shares have no doubt been purchased at various times by the investors at the Silicone Investor and most probably are the very same shares that Mr. Gordon either granted outright to himself or took down and converted from 15 cent options that he and Mr. Henry ruled as Board members should rightfully go to Mr. Gordon for his superior performance for losing more than $25,000,000 over the last 2 years as revenues climbed to the dizzying height of almost $1,000,000 last year. These are no doubt many of the same dollars that have supported the company over the past few years but only after producing a beneficial profit to Mr. Gordon which in turn he has the option to re-lend to the company for more 15 cent shares. No doubt there is probably much thought to re-pricing these 15 cent options downward for the stellar performance that Mr. Gordon believes he will deliver sometime in the future. Quite frankly my group has been more anxious than I to begin in earnest a solid evaluation of all the public filings made to date by TSIG and as far back as our budget will permit of Phoenix. However, as I have stood by and watched what I believe to be a relatively civil, albeit non-productive to date process I am now compelled to put my two cents back into the fray due to what is appearing to be a more than obvious and disengenuine effort to redefine the situation. Below are a series of posts that culminate in one by Mr. Hammer that generates more questions than answers as to just what the hell may be going on here. Post by Sam….You have a Point...If i owned the company like RG and a bunch of posters got together and made a list of shares they owned and then demanded that the boards best poster be placed on the BoD, i would probably wipe my ass with it....But...Marty has been instrumental in helping this company with getting Cohesive to build us a new site at a very discounted rate and then convincing Hwang to come on our board and then convincing him to quit cohesive and come to work here full time and develope this company into a internet presence...Marty also has the shareholders interest in his best interest and knows the workings of a public company....tell me...what would it hurt to put him on the BoD? Sam Post by V$gas in response to Sam….If you would take the time to read my post, you will see that I support Dr. Frankel on the BOD. However, I will not act rashly or childishly, if it does not happen. I would think that some of your previous statements could be taken as threats against TSIG for not putting him on the BOD. If I were anyone associated with the company, I would read those posts, laugh and then tell you where to stick it. Just my opinion. Post by Hammer in response to V$gas in response to Sam….I heartily agree that threats are not the way to get anything accomplished. As V$gas has pointed out, threats will only make TSIG less likely to listen to any shareholder requests, whether they involve appointing someone to the Board, or otherwise. In addition, V$gas's point that the number of shares held by the pro-Marty faction can not be verified is extremely valid. This appears to be a misunderstanding. If I remember correctly, REW has provided all the names with the shares. Also, from what I have heard, there is a fairly large group of investors who are not very interested in having Marty on the board...perhaps they don't feel that his qualifications are impressive enough. Oh, really. Where did you hear this Mr. Hammer? This large group of shareholders certainly cannot be found here. Are you posting on a board somewhere else that is anti Dr. Frankel? Do you know what Dr. Frankel's qualifications are? How do you know if these mysterious investors you have heard of knows about Dr. Frankel's qualifications? Your statements ring of dis-information. Especially in light of your, ahem.... very long posting record of 27 days. Incredible that you have gotten such a grasp of the players and subject matter in such a short period of time. Do you live in Colorado or do you know of Stock Profiles or perhaps do you personally know Mr. Gordon? Are you Mr. Gordon? Maybe they would like to put up their own candidate for a Board seat. These guys put money into the company day in and day out when Silicon Investor posters and others are getting scared and selling like crazy. "They"?? “These guys??” These guys???? Just who are these guys you are referring to? Marty doesn't know of any potential sources of capital for TSIG, while these investors bring cash to the table on a regular basis. Who is more deserving of a Board seat? How do you know if Dr. Frankel knows or doesn't know potential sources of capital? I'd suggest that the people that Dr. Frankel knows would not be wearing a mask or carrying a gun. I'd also suggest that any respectable source of limited dilutive financing wouldn't touch TSIG as long as Robert Gordon's name and attendant past non-performance and bankruptcy record is associated with TSIG. And how do you know that these investors bring cash to the table on a regular basis? As far as the argument for giving Marty a Board seat in order to reassure investors, we have to remember that the purpose of the company is to make money, not to hold the hands of the stockholders. Make money??? Make money you say???? Now you've done it. Robert Gordon hasn't a single bit of history that can be pointed to during the last 7 to 9 years where he's been involved where there was a predictable REVENUE stream, much less the ability to MAKE MONEY!! TSIG can't take action that it doesn't believe to be fundamentally correct simply to make people feel better about their investments. If you don't believe in the company, you shouldn't own its stock. Hammer Mr. Hammer, you obviously don't get it. All too many of us believe in the company. However after the last 10K and a quick review of the CEO's sordid corporate history all too many us now do not believe in the CEO. It's the CEO Mr. Hammer, it's the CEO we don't believe in, not the company.