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Microcap & Penny Stocks : Zia Sun(zsun) -- Ignore unavailable to you. Want to Upgrade?

To: who cares? who wrote (2196)	6/2/1999 12:01:00 AM
From: Francois Goelo	Read Replies (1) \| Respond to of 10354

Too bad decrepit Burns, you're on ignore. Keep farting in the wind. FG

To: who cares? who wrote (2196)	6/2/1999 12:28:00 AM
From: StockDung	Read Replies (1) \| Respond to of 10354

He will not answer you because OLI is part of the stock Rig. A company run into the ground and then picked up by a group of investors. Then sold to ZSUN by these same investors. How many shares? Time will tell. Why its Allan Hardman and David J. White a ZSUN insider? Allen Hardman said from his office in Solana Beach Friday, February 26, 1999 Tech Schools In Utah Face Little Regulation BY STEVEN OBERBECK THE SALT LAKE TRIBUNE Allen Hardman knew he was taking a chance in September when he led a group of investors in purchasing the financially troubled Certified Technical Institute in Draper. But the computer-training school, which promised its 180 students they soon would be earning $60,000 or more annually as certified network engineers, could be had at a bargain price. "We knew they were having problems, but that was one of the reasons we were able to pick up the business so cheaply," Hardman said from his office in Solana Beach, Calif. "Unfortunately, it also meant we were not able to perform all the due diligence we should have up front." Last week, CTI's new owners closed the school. They blame the closure in part on the school's founder, Tali J. Haleua, an ex-convict who started CTI in November 1997 just nine months after being released from the Utah State Prison, where he served a year for theft by deception. Such finger-pointing, however, is providing little solace to the school's students, some of whom paid $15,000 or more in tuition for the chance to earn hefty salaries in computer networking. "I was stunned when I showed up for class last Friday morning and saw the sign that said the school was out of business," CTI student Mark Bray said. "I felt angry, betrayed and just ticked off." What made matters worse was Bray and other students say they tried to do their homework and check out the school before they signed up. They called the Better Business Bureau and the Utah Board of Regents, which requires that such schools register before doing business. "I was told everything was fine," Bray said. The failure of CTI points to the lack of oversight of such technical schools in Utah, where just about anyone can start a school and begin collecting tuition by simply registering with the Board of Regents. "We require the operators to register and provide us with information on the training they are offering. And we ask for a copy of their student catalog and enrollment agreement," Board of Regents spokesman Harden Eyring said. Yet Eyring concedes the review is not as extensive as it is in most states, some of which have full-time staff members devoted to oversight of private training schools. "I do not know what a student can do to anticipate these kinds of situations," he said. "We met with CTI two weeks ago because the new owners needed to register with us. We heard there might be some problems, but were told everything was fine. We certainly gave them every opportunity to tell us if something was wrong." Hardman said he did not anticipate the terrible financial condition that CTI was in last September. But it quickly became apparent there were big problems. "They had no financial planning and no cost controls in place." And Haleua, CTI's former chief executive officer who still held interest in the school and remained on the board of directors, was resisting setting up a budget for the school, he said. "I got a copy of one memo he sent," Hardman said. Quoting the note, he said it read: "Scan this. This company is not going to be run on a budget." The new owners said they discovered Haleua -- who also had served time in the late 1980s after being convicted of theft -- had teamed up with another CTI officer, Lance Orlob, to take more than $600,000 out of the of the company in the two months prior to the sale. And they contended in a 3rd District Court lawsuit filed in early January that Haleua also took another $30,000 in the month after control of the school changed hands. "We knew something was up when Tali showed up after the sale driving a BMW," said David J. White, an early investor in CTI who later became chief financial officer under the new owners. Telephone calls to Haleua on Thursday were not returned. Hardman said since September, the new owners lost $1.6 million trying to keep CTI going. "But it was going to take a lot more. The decision was made to close," he said. Bray says he has a problem with the new owners trying to portray themselves as victims along with students. "If they wanted to say they were victims too, then why weren't they out there Friday morning rather than off somewhere hiding? They might have taken some heat from the students because they were the owners, but they could have done more than sneak around and put a sign on the door." In response to the closure, several other training schools said they are considering, placing CTI students into their programs for either cost or at a discount. "We are trying to get a feel for where each student is in their training and where we might be able to help," said Melinda Zito, business development manager at Knowledge Alliance. "But realistically, we are going to need the help of all the other authorized training schools in the area to help take care of the problem."