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Here's a hint: Who hired Milton Mattox? Also, Wilkinson is a interim CEO. If he jumps ship soon, that is a troubling observation. He usually gets the company ready for someone else but in this case, without sales and dwindling cash flow, he may be putting his resume out there before the shit hits the fan. I am heavily invested and hope it's not true but also know if the ship is sinking, the last to know are the stockholders. There definitely needs to be a conference call very soon. Structured PR is not going to cut it at this point unless it's an announcement of sales with actual numbers and not another reseller agreement. Show us the money Tom!
We signed a reseller agreement a few years back with CLOK with the understanding that the product was going to be ready for commercial sale. It wasn't and have not looked at it since. Dealt with Xplore Tech in the past and they put out a very good product at the time. If Mr. Wilkenson can accomplish what he did there, we may have a product and company. He definitely needs to clear any trace of the old regime out and put his stamp on this company for any reputable company to want to move forward with this product. It's not only the tech that has to work. The Mgmt has to be sound and create a professional and level of expertise that allows the technology to flow so it gets implemented correctly and the re-sellers can have confidence that there are answers and someone working on glitches to back up the product. There also, as stated by others, has to be regular communication with the stockholders when events unfold to keep them informed and engaged. At this point I see the changing of the guard and alignment of the Mgmt and sales team to begin this journey. Don't know if the product is sell-able yet. That should work itself out soon enough as there are suppose to be test cases and results that should be published when available. The CEO should have numerous contacts that will take his call when the time is right to start the sales process when the product is ready. The sales team is suppose to do that but his rep will move it faster at the beginning and they can move from there. They may even want to rebrand the product since it has been tarnished and not accepted at this point that we know of, or get it to a working product and sell it to a company who will rebrand it under their umbrella. A small company with no sales can only last so long before legitimate people jump ship for more lucrative waters. He has some time and it seems a plan. It shouldn't take more than 6 months for this to play out as the software is either real and usable or BS and no amount of money and time will make it happen. Everyone has to eat and the good ones seek opportunities quickly. CLOK will sink or swim soon in my opinion. Good luck to all!
I personally have had an association with MLDG for more than 15 years. His ego is very large and has found a way to make money from spinning stories. I bought into his stories and truly wanted him to succeed as it would benefit all. As time went on, I realized he was just bluffing and weaving in order to get shareholders money, collect a large salary and also keep the illusion going. He was in the MLM biz and knows how to spin a story. Part of this is not an uncommon situation as it takes a multitude of ego, drive, vision and finances to get a company off the ground and a product to market. His greed and accused misappropriation of stock/funds is what sets him apart from the honest entrepreneur in my opinion. A few years back the software, in it's infancy, was presented to our company and was a long way from a sell-able product. I believe it has evolved since then. Is it actually viable marketable now? I don't know. Our company wasn't in the position to retask our sales force to take on marketing an unestablished, not ready for market product a few years ago. I am hoping it has validity now as I have a lot of stock and would like to see a return on my investment also.
Our company develops and sell software solutions and I have come to understand it is more than just a working product needed. It has to be stable, reliable, repeatable and cost effective compared to the competition or the alternative. Our company has in the past worked with Explore Technologies and know from first hand experience that the product was very dependable and used it for multiple applications. I don't know Tom Wilkinson personally but do know that in my opinion for this company to move forward, gain any industry credibility and make shareholders a possible return on their investment, the old regime must be completely disassembled and someone with prior CEO acumen in putting together a team, bringing software and hardware to market put in place. In reading his bio I believe Mr. Wilkinson has the experience to move this forward and there should be plenty of funds left to accomplish this if the product line can be reintroduced and possibly rebranded. He should have plenty of contacts in the industry to open doors if the product is viable.
A few concerns that I have are:
Dr. Carlsen's loyalty at this point and how much control does he have and what roll will he play in future development or will he go down with the rest? Is the source code protected and owned by the company? What entity or entities have the controlling interest in this company since so many shares may have been misappropriated.
I will chime in from time to time but do not engage in frequent conversation on these boards. These are my opinions and wish all stockholders good luck with this next chapter as it's been a long journey for some.
I spoke with Darrow and Assoc and it was stated that Tom Wilkinson is still actively working at the company and is still CEO. Michael DeLagarza is not an employee but still a Director for the time being. Sometime after the 29th the summary will come out and we will know more.
Not a fan of DeLegarza. Am going to file legal action soon.
10am Pacific time, not EST. didn't start yet
CDVT oral appeal results will post here when it comes out.
http://www.cafc.uscourts.gov/oral-argument-recordings/2012-10-03/all
Williams just registered to sell 500,000 shares of CDVT stock. Mr Kite, if you let this happen, you are on the wrong side. You said you held all of his shares. Here we go with the dump and lies.
Wilcom filed with the SEC to have the legend removed and KM Capital Management is the broker registered on 9/14/09
I warned this was going to happen and much more will be sold if he is not stopped now.
I agree. I meant Kite is the only one who can authorize a release of info and hire and fire at this point being the CEO and only BOD. Not the position where we want to be at this time.
People are buying expecting a pop after the Markman hearing if it is favorable.
The day I spoke to him he said he just came on and was going into a meeting with Malet and others to get the facts straight as what to present to the public. Never heard from him again. Kite let Williams and Malet off instead of making them pay now. There was no reason not to prosecute and start collecting restitution. Kite himself said that Williams made the bogus loan to himself that drained all of CDVT settlement money. Malet still works for the company and in my opinion Kite has no intention of making Medcom viable again. It would mean prosecuting Williams, Malet, Bednarski and possibly implicating himself. He is probably backlogging expenses and will begin to drain the account soon after the Markman hearing comes out because people will be more inclined to buy and sell at this time. Kite has no idea how to run Medcom and has had Malet and Williams in the background scurrying to cover their tracks and try and piece together a story for the Feds when they get busted. Denise Barton probably wishes she never got involved with this and won't finish the books for months if ever to get the q off. She is only fed what they want to feed her. I don't want to appear negative on this but I posed some questions to Kite 2 weeks ago after he called me and said "If you have any questions, just ask" Well, I did and not a word back. They were all general questions that would not be insider info. Just more BS about how he got into this and he's working for nothing. Well, no one works for nothing... Stock transfers and bogus IOU's will surface soon after the stock runs a little. It's an old scam.
Lotto,
Are you truthlecturer2009? I have had some derogatory remarks by him removed and he claims to be you. This is another violation of Yahoo rules. Below is from emed message boards.
Re: Rumor "Williams released from law suit" 5-Sep-09 05:23 pm
LOTTOPLAYERSLAIR ON I HUB HAS DONE MORE THAN YOU. AND GUESS WHAT? he is me.
He was PR person (company named Lane)hired around that time. Only lasted a few months also had 888-955-9922 as contact #. Spoke to him once and never heard from him again.
The only reason Williams would resign is if the fraud evidence against him is indisputable and the SEC lawyers are asking questions as to why is he still there. It would make Kite look like a accessory if he is still on the board in my opinion.
The question should be "Why did Kite give Williams breathing room" when accounting shows he defrauded the company. His assets could have been frozen this week in court and restitution could have already been started. This just opens the way to more dillusion of the stock to pay bills.
Mr. Kite, needs to have a stockholder vote before he sells or gives away stock in either company. Don't allow this to happen. It happened under Williams direction and came out only under investigation later on. Millions of shares were sold and given away for no reason and need to be confiscated.
The 10K for CDVT states that $601,611 was loaned to Medcom. In that period CDVT sold $102,500, issued $294,000 stock to third parties and had bank overdrafts of $1,963. So, that means if this bogus loan was not made this stock would not have had to be sold and there would be no overdraft because there would be $601,611 to pay these things with reserve left over. This is outrageous that new management has not called the feds in on this. You know I am and will start the next round of inquiries. No stock needs to be sold to keep this company afloat. Beware of bogus sales and payment to third parties. The loan needs to be paid back immediately, not over time...It was fraudulent to begin with.
The 10K states that $601,611 was loaned to Medcom. In that period CDVT sold $102,500, issued $294,000 stock to third parties and had bank overdrafts of $1,963. So, that means if this bogus loan was not made this stock would not have had to be sold and there would be no overdraft because there would be $601,611 to pay these things with reserve left over. This is outrageous that new management has not called the feds in on this. You know I am and will start the next round of inquiries. No stock needs to be sold to keep this company afloat. Beware of bogus sales and payment to third parties. The loan needs to be paid back immediately, not over time...It was fraudulent to begin with.
Thanks for the info. Can you post this on the Yahoo board? It won't let me cut and paste. We will either need an incredible response from Kite with restitution from Williams or a new suit filed with Kite added to it.
Dragonwing,
Do you have access to PACER? I heard a rumor that law suite was just released against Williams by Kites Attorney and now he doesn't have to pay restitution. It would have happened the 20th or 21st of August, Thursday or Friday. If this is so, this proves Kite is in with Williams and he will have to be pursued also. Can you or anyone else with access to Pacer see if it went through the courts yet and post it? Thanks for your help. I don't want to spread rumors unless they can be substantiated and this is the only way I know how to confirm it.
Dragonwing:
Thank you for the info.
So it looks like Philip Wyatt from Medical Associates Network, Williams and Kite have the majority shares of CDVT. Don't know how Wyatt fits into this except being a large stockholder at this point. Williams still in there and it states Bednarski is still Pres. of Medcom although from last PR as of June 14th he resigned.
This 13d states:
Kite CEO CDVT
Bednarski Pres. Medcom
Williams Director Medcom
I think this whole Kite thing is bogus. It's been a while since Kite took over and not 1 announcement from the company. He's had plenty of time to let stockholders know at least whose in and whose out. He still has Malet and Williams working for the company and he is the sole BOD. $695,000 was loaned to EMED last quarter from CDVT and there is no accounting for it. I've asked him to let the stockholders know why, where it went or when it will be paid back but....that's what happens when 1 person runs things. He is covering for old mgmt. Wiliams has not paid back one cent to the company or given back his stock. Nothing has changes except for adding 1 more name to the list. I wanted to think and had hoped after speaking with him a while ago Kite could pull this off, but as you can see, he talks like a big guy and hides like the little ones with a big mouth. I have abided by his wishes and asked people I know not to post, but there comes a time when enough BS is enough. Where's the beef?
I will start my campaign again to the Sec once again and push with the people I know to step up investigation of Williams, Malet, Kite, the leasing companies and the bank. I would recommend everyone do the same with any contacts they have. This is the second round and there will be more. Apparently Mr. Kite thought we would all go away. Your just beating a hornets nest and infuriating the rest of us even more by making believe you know what you are doing. Mr Kite, here's a question for you, "Are you just as liable if you know something and don't act on it?" A lot of people have been convicted on a lot less. Since you are the CEO and BOD, you can't say you are not informed by this point unless you have no idea of what you are doing. In that case you shouldn't be there in the first place. We, as outside stockholders have rights to know what happened to the past money and why Williams hasn’t made restitution and where the company is going. These are not private questions. They are public and directed to the only Board member and CEO of the company. I will be forwarding this and other info to the SEC as it comes available.
If you want to tern this into a pissing match...go ahead. I have a law firm in place that I retained. EMED has no money yet and you are right as far as who I am going after...It is the people. If it is mine and a few others money, I am not going to broadcast intentions at this point. Class actions only work when there is something to gain monetarily so I agree with you there. The info you stated is basically correct, so we are on the same page except for the law suite. I am not interested what you think of my knowledge. The stockholders I am in touch with know me and where my intentions are. I appreciate you putting out what you have heard.
I received the same a few weeks ago. It basically means that they have read the info you have sent and from that point they decide if there is a case or not and send it to the field rep who starts the in depth investigation. Looks like our efforts are paying off. By enough people writing to the SEC and sending independent info, they realized they need to take it seriously. Many people just let it go and the govt doesn't want to be bothered until they get enough people complaining to make them take the next step. Good work. From what I heard, Q will go off CDVT soon. That is a step in the right direction for CDVT at least. EMED needs a lot of money put in quickly to make it worth saving. Williams needs to make restitution and be put away along with Malet in order for EMED to have a chance with new stockholders.
You are not offending me but your off base. I have a law firm in place. They are not on contingency and the DeLagarza suite and info can be used again. It was not a money thing, he got his companies back, restitution is part of dropping the case and a number of other things. You are not informed completely, but then again no one really is. That is part of the problem. Everyone is going on bits and pieces and from different sources. I believe there should be an announcement soon on resignations of Williams, Malet, and Bednarski and DeLagarza back running the company. Now, that said, proof is in the pudding, let's see what Mr. Kite has been able to get everyone to actually follow through on. My suit is contingent on what happens with this suit. It's not just about the money.
Unfortunately, at this point I can't say more.
If you are talking about Kite, that might be true. He doesn't own many of them them though and Williams shares revert back to Williams in 1 year so unless they are given back to the company in the restitution process, Williams still controls the company and nothing has changed. Kite is just the facilitator who now becomes a co conspirator with Williams and Malet and is liable for his actions as sole BOD and will be mentioned the upcoming suit..
1. MLDG can refile if Williams does not comply with restitution.(Dismissed with Prejudice)
2. There is another suite ready to come out depending on the final outcome of this one.
3. As you can see, they didn't file in time and went to pink sheets. They obviously don't want to revive these companies and are trying to wear down shareholders so we feel helpless with all the dribble and false hopes.
4. Kite has already put Malet to work for the company so he is lying about that.
5. Malet lied directly to stockholders about numbers and statements. I have proof and have corroborated it with others. But you don't even need my proof, look who signed off on the quarterly statements and Malet is the one who released it from the company. Just read the 10K from Sept 2008 for yourself and decide if this person committed fraud.
6. Kite doesn't own the jet to sell and Williams has refused to give up anything and won't sign anything to do with restitution so it is all talk to get your hopes up.
7.The real $ worth that they want... Estimated $90 mil in NOL's may be true which makes Medcom shell worth using for another company.
8. Kite has control of Williams shares for 1 year. If they can drag this on long enough Williams will get them back and open up another sham to drain again.
The only chance for stockholders is if:
1. Williams, Malet get prosecuted, loose their shares, make restitution.
2. Leeco, Ladco dept is wiped out.
3. Bank dept is proven fictitious and wiped out.
4. MLDG is allowed full reign and powers to run company.
5. BOD of impartial,(not friends of Kite) people who can bring biz to company and have experience of how a board is run, assembled.
6. CDVT stays autonomous from EMED and has a separate BOD and gives out quarterly dividends to shareholders once the crooks have given back their shares. They must give their shares back first or they will be getting the bulk of dividends back to themselves.
To all shareholders, this is a lot like what has happened in Medcom and Card... Medcom defendants have less money to defend themselves, should be an easier case to prove.
Judge orders Scrushy to pay $2.9B to shareholders
AP
BIRMINGHAM, Ala. – A state judge on Thursday ordered former HealthSouth CEO Richard Scrushy to pay nearly $2.9 billion to shareholders who sued over a massive accounting fraud that nearly sent the rehabilitation chain into bankruptcy.
Circuit Judge Allwin E. Horn, who heard the case without a jury, ruled in favor of HealthSouth shareholders who filed a lawsuit claiming Scrushy was involved in years of overstating the company's earnings and assets to make it appear the company was meeting Wall Street forecasts.
Horn wrote in his ruling that Scrushy "knew of and participated in" the faked reports filed with regulators from 1996 to 2002. He said the HealthSouth founder also "consciously and willfully" violated his financial responsibilities as CEO.
Scrushy was acquitted in a federal criminal case over related charges and testified in the state civil case that he knew nothing about any fraud. He is serving a nearly seven-year sentence for a 2006 conviction in a separate state government bribery case.
The Alabama suit accused Scrushy of unethical dealings with the company while it was going broke and complicity in $2.6 billion in fraudulent reports it filed with regulators. The amount shareholders sought included money they claimed he pocketed through sweetheart deals.
The final judgment from Horn totaled $2.88 billion.
While Scrushy is a multimillionaire, it was not immediately clear how he could pay the judgment. Scrushy's lawyers did not immediately return calls.
An attorney for shareholders, John W. Haley, said Scrushy was "a man of substantial means" who earned more than $266 million from the time the fraud began until he left the company in 2002.
"We think he's still a man of substantial means," Haley said Thursday.
Scrushy, who testified publicly for the first time concerning the alleged fraud during the trial last month, denied getting millions from the company in improper deals or having any role in cooking the books.
"I had no knowledge of any financial fraud at HealthSouth," he testified.
While Scrushy was acquitted of criminal charges in federal court in 2005, 15 former HealthSouth executives pleaded guilty and a 16th was convicted. Some testified in the civil case, claiming Scrushy knew that financial reports were faked.
During the lawsuit trial, Haley repeatedly confronted Scrushy over what Haley described as obvious conflicts of interest. Among them was HealthSouth's purchase of 19 acres of land next to Scrushy's suburban Birmingham estate for $1.9 million, then giving him the land three years later. Scrushy said he got the land instead of a bonus one year.
Haley, sounding incredulous, recounted how Scrushy took an $82 investment in a company that purchased property at a discount from HealthSouth and turned it into a personal profit of some $12 million in four years by leasing the property back to the corporation.
"That's the way it works in America," Scrushy said.
Haley also claimed Scrushy received $226 million in compensation over seven years while HealthSouth was losing $1.8 billion, but Scrushy disputed the numbers.
Five former HealthSouth finance chiefs gave testimony implicating Scrushy in a scheme to fraudulently inflate earnings. Scrushy, who hired all five when he ran the company, blamed them and described them as having personal weaknesses.
Scrushy wore a dark business suit in court, but his leg shackles jingled as he arrived for his first day of testimony. He changed back into prison garb when his testimony ended and he was returned to a federal prison in Beaumont, Texas.
Nothing will happen. They are stalling to try buy more time to figure out what to do. No biz plan in place, same people in the company except for Bednarski who finally resigned. Kite won't let MDLG run company because restitution will have to be made according to settlement and Wiliams, Malet, Bednarski won't do it. Also they don't want criminal charges to go forward because they know they are guilty and can't cover their tracks if someone else is in place.
All negotiations are a stall tactic. Kite still didn't get Williams or Malet out of company. He wants Malet to run part of Medcom which makes him a co conspirator and implicates him even more. I don't get how Kite thinks. On a legal basis, he is just burying himself with Malet, Williams and Bedarski. I would have though he would want to follow through on getting the money back in the company and the crooks out. Looks like that is not going to happen. We need a new Board of directors, forensic cleanup, restitution made and a biz plan in place that makes sense.
If you haven't done this yet, contact the SEC and FBI
Gather what you know and write a summary so you can send it to them. Go to the site below and email your complaint. Many people have and they will assign a complaint number to it and add it to the others that are mounting. The site is:
http://www.sec.gov/complaint.shtml
There will not be a lot of room for your complaint so keep it brief and send the whole version to oiea@sec.gov
Jim Daly is handling the Medcom case and he will add that to your complaint.
Also call the local FBI office in Phoenix with your criminal complaints:
602-279-5511
If you haven't done this yet, contact the SEC and FBI
Please do so ASAP. Gather what you know and write a summary so you can send it to them. Go to the site below and email your complaint. Many people have and they will assign a complaint number to it and add it to the others that are mounting. The site is:
http://www.sec.gov/complaint.shtml
There will not be a lot of room for your complaint so keep it brief and send the whole version to oiea@sec.gov
Jim Daly is handling the Medcom case and he will add that to your complaint.
Also call the local FBI office in Phoenix with your criminal complaints:
602-279-5511
A class action suit against Medcom, and personally against all officers of the company is in the making. I will keep you informed as it progresses.
Yahoo message board back up for the time being
He's paying for that ride with our money. He needs to be taught a good lesson. NY style.
He's paying for that ride with our money. He needs to be taught a good lesson. NY style.
Williams gone, Malet , Bednarski scurrying like roaches. E was put on stock because of restating earnings statements. Finally step in the right direction. I heard a new CFO is in place also.
E has been put on both stocks and they are in the process of restating their financial statements. It is about time and needs to be done so we know where we stand. I heard there is a new CFO. Don't know more yet.
I've heard that Williams, Malet and possibly Bednarski are gone. Restitution will be made in both companies and charges will not be droped against defendants. As stockholders, we need to also make sure that we are included in restitution and that criminal charges made toward them are followed through.
I have personally spoke with FBI and can tell you they are aware of Medcom. Will not give out more info except to say my bite is worse than my bark. Don't know how Medcom will do as far as us stockholders but do know high level people are now involved and action is being taken on the criminal side.