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Re: Sparklefarkle post# 31865

Friday, 11/20/2015 3:14:08 PM

Friday, November 20, 2015 3:14:08 PM

Post# of 33394
The real coward is Mr. Iehab who, for 15 years, has “looted” corporate coffers to enrich himself at the expense of investors. What public entity allows a Chief Executive to continue after 15 consecutive years of losses? Why has he not had the courage to resign? His accomplice all these years (Mr. Fadi) resigned.

Mr Iehab has documented his actions himself in lawsuits and public filings - no need to make this stuff up. It is Mr. Iehab's reality.

The appellate court in the Playsafe (Mr. Iehab & Mr. Fadi) vs United Medical case upheld the following statement from the trial court:

“In granting the motion, the trial court concluded that “the evidence that Hawatmeh and Nora abused the corporate structure of PlaySafe to, in effect, operate it as their personal bank account is overwhelming. They effectively looted the corporation by taking out more than $1 million in loans over a 13 month period rendering PlaySafe effectively insolvent. Indeed, PlaySafe had only been capitalized with a total of $700,000. The suggestion that these loans were approved by ‘independent directors’is belied completely by the evidence.”

Loss from Operations
2014 ?
2013 (1,015,316)
2012 (375,813)
2011 (7,043,410)
2010 (1,015,316)
2009 (5,814,653)
2008 (3,911,212)
2007 (7,232,524)
2006 (2,854,369)
2005 (527,708)
2004 (658,322)
2003 (2,910,978)
2002 (2,149,810)
2001 (2,933,084)
2000 (2,791,888)
1999 (3,768,905)