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To: Grant Cash who wrote (579)6/1/1999 9:23:00 PM
From: Ben Marfield  Read Replies (1) | Respond to of 619
 
<< how do justify your ... statement about misappropriations and jail >>

Money may or may not have been misappropriated. Time has been misappropriated and continues to be. The truth is not wholly in financial statements, even assuming that those statements are correct.

In the absence of a management change, the firm will be gone within a year. If you are a long-term investor, you have an interest in knowing that and in shouting it out loud, rather than distributing Internet hype.

The notion of this firm being out of R&D has been around for some time.

He who takes investor money, partly on the basis of "I intend to step aside," then continues to enjoy the hobby of following intellectual interests rather than focusing on the day-to-day business requirements and building a sales staff... such a person ought to be jailed. And if there IS any malfeasance not shown in the financial numbers -- numbers that you believe to be infallible and final -- such a person may in fact be jailed, along with anyone who is responsible for protecting shareholder interests but who fails to protect those interests.

An annual meeting must occur sometime before autumn. Between now and then, we should be acting to place the day-to-day operation of this business in the hands of people who are competent and emotionally coherent, even if doing so results in a short-term loss of value.