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It actually details this process on the Delaware State website, and I did view it.
http://www.state.de.us/corp/frtax.shtml
Sorry bvdog, I forgot to mention that when I did have a loss on my tax the first two years, all I had to pay were the costs to cover Pennsylvania filing fees and my accountant. Hope this helps
bvdog, I received a response from Nik to further try to help you understand. Owning a business myself, when I started in 1997 my first two years on my tax return my company had a loss due to inventory, expenses, and start up. This is common with a small business in my case. I'm not sure on a public company but it makes sense.
Nik,
Can you elaborate on the tax question, so the share holders will understand? As always thank you,
Certainly.
The State of Delaware assumes a maximum tax until you file accounts.
When Ian took over Medify there were two outstanding returns, so according to State of Delaware there was an outstanding amount of $280,000.00.
Ian filed the returns, and they were reconciled. The total ACTUAL outstanding amount was $500 per year ($1000.00 in total).
This was paid immediately. All taxes are up to date.
Furthermore, we are due to file our next return at the end of March. Our US accounts team predict the amount owing in tax will be a similar amount.
I hope this information helps with the last individual using the board to make outlandish statements that he cannot back up.
Nik Ellwood
Head of Sales and Marketing
Medify Solutions Limited
Email: nellwood@medifysolutions.com
Web: www.medifysolutions.com
Further action and response from Nik on accusations:
Tom
A few final points on Capt Bob’s last posts.
1) There is no outstanding Tax bill. This was explained yesterday.
2) What has Trevor Bone got to do with this?
3) Google alerts are requested by the person who places them. There are no other Alerts for ANY other contributors to the Ihub board.
I hope this episode underlines to shareholders how much work goes into to finding the individuals who are deliberately attacking the PPS and damaging the investment value of the equity.
It is not at all coincidental that on the day the Company provides proof that one such individual is 100% inaccurate and unable to back any of their wild accusations with fact, the individual declares their disgust with the whole matter and states they will not be posting any further.
I agree with another post, that states our time would be better invested in further the sales campaigns for the product. However, as we have now all witnessed, to try and move the company forward whilst public attacks are taking place does nothing but damage the PPS.
As much as I would prefer to invest my energy into positive actions, events such as those that have played out today are an important part of our role, and I would ask true shareholders to help us with this. Not only can we remove malicious attacks on the company and the investment that shareholders have made, we place ourselves in a much stronger position to move forward.
Thank you to all on IHub for their assistance in this matter.
Regards
Nik
Nik Ellwood
Head of Sales and Marketing
Medify Solutions Limited
Email: nellwood@medifysolutions.com
Web: www.medifysolutions.com
Interesting, While I have my own opinion as once this activity was revealed to the board, the alerts disappeared from the Google Medify Solutions front page. If people get caught in doing the wrong thing, I guess they then leave. imo only.
If anyone finds any other information on TPP / Isoft or other DD please share? Thanks.
See Clancy's post on Google alerts. I'm not sure.
Already on it. I'm still learning the board info procedure. Good idea though.
Absolutley, The more digging I do, the more I see potential for this TPP. I found this company that is a huge supplier of the NHS, for both primary and secondary care. http://www.csc.com/newsandevents/news/8468.shtml Now if Medify were negotiating with companies like this” – “makes sense as it gives them the entire UK market and follows the current business model. Read the investors bulletin again, I think this could be big for us and come out of the dark.
As well Clancy. I for one am glad that Nik is taking this seriously, and they (Nik & Ian) are staying true to what they stated in earlier comments on looking into the shorting of the stock, and protecting the company. imo
I had asked Nik to keep us updated to all findings of the investigations and anything being brought up by the share holders. He responded to me with
Tom
I know that there was resistance to the idea that the MDFY.pk stock was being shorted.
We are currently working on investigating this site, which publicly advises people to short MDFY.
http://www.interactivebrokers.com/en/trading/ViewShortableStocks.php?cntry=usa&tag=United%20Stat...
In addition to the stock being publicly listed as a shorting target, this is an example of the Google Alert set by Capt Bob.
http://blogsearch.google.com/blogsearch?hl=en&client=news&q=mdfy+captain+bob&btnG=Search...
True MDFY shareholders will be in no doubt about the activities that we have uncovered. This absolute proof that MDFY.pk is being deliberately attacked resulting in significant damage to the company, its pps, and the value of shareholder investments.
We would ask that all Medify Solutions Limited shareholders help us to stop this deliberate activity.
I will make further information available as our investigations continue.
Regards
Nik
Nik Ellwood
Head of Sales and Marketing
Medify Solutions Limited
Email: nellwood@medifysolutions.com
Web: www.medifysolutions.com
There was a lot of information on the Monthly Investors Bulletin February 2007. This could have something to do with the news of a buyout that they told us about? http://www.medifysolutions.com/newsarticle.php?articleid=63
From the Investors bulletin, coming in March and since we are pretty much here. Has anyone had any thoughts or done any DD on the new platform( IT supplier I think).
Platform expansion
Early March sees the commencement of talks to expand MedifyRemote™ onto a second national software platform, vastly increasing the potential customer base for the product.
I assume this is another company like EMIS an IT systems supplier. A lot has happened in the UK surrounding the ehealth community. Medify did state that their would be news out end of Feb, but more likely March. This link was interesting http://www.ehiprimarycare.com/news/item.cfm?ID=2469 I also remember the crisis with Isoft and another system. I found another company that does the same thing as EMIS but seems on a much larger scale( http://www.thephoenix.co.uk/index.html) Ok I have to do some work today to feed my addiction. Thanks God the real estate market is still slow right now. Any thoughts/ questions?
Tom
Additional information from Nik,
Tom
Further information for the IHub community.
Since you have posted the information I sent you regarding Captain Bob and his “contacts”, Captain Bob has removed all of his Google alerts.
Regards
Nik
Nik Ellwood
Head of Sales and Marketing
Medify Solutions Limited
Email: nellwood@medifysolutions.com
Web: www.medifysolutions.com
To get to the bottom of accusations I am staying on top of this by getting back to Nik for clarification. He has been responsive to my emails.
Dear Tom
To demonstrate the seriousness with which we take the statements made against the company, we requested IBM search their global directory to verify the names given to me by Captain Bob.
In response, the direct quote from an IBM UK Executive is:
“not on our blue pages anywhere globally.”
The search was conducted on three names. Whilst it is entirely true that Captain Bob may not show up as he is retired, the names he gave to me last week as an IBM UK employees who had done all of his “legwork” fail to register also.
Therefore, according to IBM UK, this individual is quoting names and findings from individuals who do not exist. There can be no clearer indication that this individual is involved in a malicious campaign to have a detrimental effect to all shareholders.
To further underline our commitment to ridding the company of these detractors we are holding further conversations with our IBM representative later today. Needless to say, IBM are being made fully aware of the situation.
I hope this demonstrates to you, along with our current activity, that the Company will not stand idly by and be attacked, and we are following each and every instance of these manipulative attacks to the full.
I look forward to reading positive comments from shareholders on this matter.
Nik Ellwood
Head of Sales and Marketing
Medify Solutions Limited
Email: nellwood@medifysolutions.com
Web: www.medifysolutions.com
Answer to Capt. Bob, after the first question.
Dear Tom
Please find below the text from the email that Capt Bob sent 24 hrs after he was offered a meeting for his representatives at the Medify Offices to gain complete clarity of the current situation, which he declined. I am getting a little tired of defending the company from scurrilous attacks by people with a malicious agenda.
I would be interested in the thoughts of the IHub members as to why anyone who is a shareholder in the company would negatively react to all and any statements, answers, questions and comments raised whilst I try to formulate the best possible approach to build two way communications between the company and its shareholders.
Are the board members aware that Capt Bob is deliberately posting his Ihub comments as Google alerts?
Capt Bob please explain to your fellow shareholders why you are broadcasting your negative comments to any and all potential new investors. As we all understand, new investment is one of the key elements to help raise the PPS. We are working hard here to move the company forward, yet you are working equally hard to hold it back. Can you tell your fellow shareholders why this is?
This is the email.
“Nik, & Ian,
My two business contacts, Rob & Sandy, specifically Sandy who did most of the leg work, gave me a detailed report as to the Status of Medify Solutions Ltd. They have been actively working on this for a week and have done a great job without any inconvenience to the professional involved in the inquiry. They also felt that with the wealth of un-bias information received there was not a need to meet with you at this busy time. I supplied as much information to them to start, Vodafone, Sentinel Article, (Jessica Williams), Oracle, EMIS, Dextra and some of the Professionals mentioned over the last year. It always surprise me as to how on thing leads to another and when you are in the active business environment and who knows where it can lead. When I was at Big Blue, we called it "Networking", and it can be invaluable when making decisions or completing a task. In light of this current wealth of information received from Rob & Sandy, I am going to immediately submit a trade order, (through my T.D. AMERITRADE account), to SELL 86500 shares of MDFY @ .11. It is my hope that the MM, (Market Maker), or someone else will see the VALUE of Purchasing the 86500 shares. If I can make this happen, then I can move on with a small portion of my original investment and direct my time and resources elsewhere. I find no satisfaction spilling my guts out on the I-HUB wed site and really would like to move on. I am looking forward to a speedy sale of the 86500 shares. Good luck to all at Medify Solutions Ltd and I hope your plans work out for you.
Bob”
Regards
Nik
Nik Ellwood
Head of Sales and Marketing
Medify Solutions Limited
Email: nellwood@medifysolutions.com
Web: www.medifysolutions.com
Response from Nik.
1. TJAK, Could you please ask NIK who the IBM UK executive is. When you find out you can e-mail me with that information. All I need is his name. Then I will go to my former co-workers at the Corporate Headquarters in Armonk, N.Y. and get Management permission to speak to the UK executive. As a retiree of IBM, with 30 years of service, I have the right to do this, and I will. Only then will we put to rest the scope of involvement with IBM as NIK has claimed. If he is put off by this, too bad, they have put themselves in the unique position of explaining each movement to the shareholders by their own deception and half truth statements. We own this company, unless they forgot! Nik had stated "If you would copies of the email traffic surrounding this conversation I would be more than happy to supply them"
Now I know this answer will get twisted, but am sure anyone with a shred of intelligence will understand this answer.
I'm not going to reveal the name of a contact that we have been working with for six months onto a public board, and I'm even less inclined when I saw who posted this question.
Bob has been offered the opportunity to have his representatives visit the office and discuss this. He declined, then claimed a day later that he had all the information necessary to make his decision, and was going to sell his shares and wouldn't be venting on IHub anymore.
Furthermore, I can see no benefit to the company and it's shareholders in passing this information on. The last thing I am going to do, having been through the difficulties we have all been through in the last 12 months, is to risk the relationship we have built with senior management at IBM.
Again, apologies that this answer will not help the situation on the board, and will obviously be twisted to become something sinister and underhanded, but there is little I can do to prevent that.
2. Who is the new Attorney representing MDFY, as stated in a recent post from either Nik or Ian? It would be nice to know who this person is in case we have some legal questions pertaining to MDFY and wish to address them.
Any legal matters can be addressed to the company and should they warrant attention by legal counsel we will forward them. This is standard operating procedure for any company.
3. I keep reading that MDFY has conducted investigations into various allegations but I haven't seen any time-tables as to when we can or will expect to see the results?
When appropriate the results of our findings will be reported to shareholders.
4. Aren't we selling Medify Remote subscriptions yet? How many have been sold? On order? Back ordered due to product shortages? and so on? If Nik or Ian would address these questions I believe Nik will see and increase in potential shareholders coming on board therefore pushing the share price up based on demand.
Yes, we're selling subscriptions. Please see previous discussions on sales figures.
1.WHY DOES MDFY OWE $165,794.52 IN BACK TAXES ACCORDING TO THE SECURITIES DIV OF DELAWARE?
Tom
Many thanks for sending on the further question.
Once again, this is a question based on inaccurate information. I have checked with Ian to be able to fully explain the situation.
Delaware charge the company the maximum amount in tax until a return is filed. When the return is filed then the balance is worked out and what is actually due is immediately due for payment.
When Ian joined the company, there was a bill for back taxes totalling $280,000.00 (!) because previous CEO's had paid no attention to it.
Ian bought everything up to date and we paid, in total, $500 per year (for the two previous years) and are fully up to date. The latest return is due for filing at the end of March and our US accountants predicted that the tax bill will be a similar amount again.
In conclusion, Medify's taxes are complete and paid up to date. There is no outstanding amount.
Hope this helps.
Regards
Nik
He did mention your #5. I also believe Ian talked about the board members during the chat. Nik also stated that nothing has been done about the 33mil. shares as of yet.
Done.
Thanks bvdog. Missed that one. I'm on it.
Until we get a better grasp of what is going on, I will submit questions more frequently. I want answers as much as everyone, so I am sending these questions as I type this. Any more please send them. If you can number them, space them, and keep them short. Thanks everyone.
Tom
1. TJAK, Could you please ask NIK who the IBM UK executive is. When you find out you can e-mail me with that information. All I need is his name. Then I will go to my former co-workers at the Corporate Headquarters in Armonk, N.Y. and get Management permission to speak to the UK executive. As a retiree of IBM, with 30 years of service, I have the right to do this, and I will. Only then will we put to rest the scope of involvement with IBM as NIK has claimed. If he is put off by this, too bad, they have put themselves in the unique position of explaining each movement to the shareholders by their own deception and half truth statements. We own this company, unless they forgot! Nik had stated "If you would copies of the email traffic surrounding this conversation I would be more than happy to supply them"
2. Who is the new Attorney representing MDFY, as stated in a recent post from either Nik or Ian? It would be nice to know who this person is in case we have some legal questions pertaining to MDFY and wish to address them.
3. I keep reading that MDFY has conducted investigations into various allegations but I haven't seen any time-tables as to when we can or will expect to see the results?
4. Aren't we selling Medify Remote subscriptions yet? How many have been sold? On order? Back ordered due to product shortages? and so on? If Nik or Ian would address these questions I believe Nik will see and increase in potential shareholders coming on board therefore pushing the share price up based on demand.
Sorry everyone, this was my mistake. I cut and post questions and forgot to re-number them. This was the post that I sent to Nik. Thanks for pointing it out.
Tom
Some questions from the group. I can't find them all.
1. Is there an update on the 33 mil shares?
3. Even with all this competition and secrecy they should have and publish a business plan. It should help in attracting more investors and buyouts. I understand it's not an easy task considering the Company's history, but still the necessary step?
4. Explain the REAL STATUS of the Partnerships as a way to show any possibilities for future developments?
5. Publish the names of the Company's Board members and their holdings. It shouldn't be a secret from investors?
8. "Did Medify pay for the "partnership" with Oracle? And if not, please describe the nature of that partnership. Thankyou."?
9. Who is the private equity firm? What are the terms ?How much preffered stock did they get? How is it convertible?
If you default, do they just get the company?
10. On the buyout ? Is $3.50 still a magic number for JB? Thanks
I will on Monday morning.
Yes, I will but they are at my office. I will post them tomorrow. I have them on a spread sheet.
I got a response from Nik on some of the questions from the board. If I missed some questions please give me the post number or repost the question. Thanks guys/girls. Have a nice weekend.
Tom
From:"Nik Ellwood" <NEllwood@medifysolutions.com>
Thanks for forwarding the questions.
Please see answers below.
Some questions from the group. I can't find them all.
1. Is there an update on the 33 mil shares?
Not at this time. I'll update you as soon as arrangements have been finalised.
3. Even with all this competition and secrecy they should have and publish a business plan. It should help in attracting more investors and buyouts. I understand it's not an easy task considering the Company's history, but still the necessary step?
Publishing a business plan wouldn't actually have much benefit at the moment. However, I have got a lot of activity planned to attract new investors. To maximise the benefits of this activity (and associated spend) it was important that we put our house in order first, hence the work that has gone into activites such as the 15c211.
4. Explain the REAL STATUS of the Partnerships as a way to show any possibilities for future developments?
The REAL STATUS is that they are real.
We don't pay for the Oracle partnership.
We don't pay for the Vodafone partnership.
We don't pay for the Dextra partnership.
We don't pay for the EMIS partnership.
We don't pay for the N3 partnership.
We don't pay for the BT partnership.
I know this may not be what some people would like to hear, but the fact is that we have a cutting edge eHealthcare technology that these large companies are interested in.
Yes, it's taking it's time to get out to market. And yes, these partners could push it harder. But, as with every new technology, everyone is waiting to see what happens. We are being watched by all of the these partners and you can guarentee if we suddenly gaint he traction we are working for then they will all jump in.
5. Publish the names of the Company's Board members and their holdings. It shouldn't be a secret from investors?
It's not a secret. We've published it before.
8. "Did Medify pay for the "partnership" with Oracle? And if not, please describe the nature of that partnership. Thankyou."?
No. See above.
9. Who is the private equity firm? What are the terms ?How much preffered stock did they get? How is it convertible?
If you default, do they just get the company?
The private equity firm is called a private equity firm because it's private. And terms are under NDA. And they don't get any stock.
And no, they don't get the company.
10. On the buyout ? Is $3.50 still a magic number for JB? Thanks
The investment arrangement replaces the buyout.
As well Bob. my apology back to you. Now I need the Eagles to join the Steelers for atleast one ring.
For everyone else. I sent Lem my number.
Tom
Here's a thought?
Is it possible that they are filing the 15c211 because they have everything cleared up and they are going to stop doing the 504s. I'm trying to do more research on 504s. Any other insight?
Tom
The more I read this BOB, the more I question you. As soon as I posted this you didn't hesitate to jump down my throat and say "...what did you learn that supports this company going forward??? Not a thing" BOB I wasn't looking to learn what supports this company going forward. I wanted to know who was telling the truth that's all. You made the accusation, so I posted it to Medify. Nik replied and stated that he would be happy to share his emails/correspondence. By your actions thank you.
Tom
Bob don't kill me, I'm just the messenger. By the way if you go back from when I started posting on this board you will find out that I live in the suburbs of Philadelpiha, Pennsylvania. My business is in real estate appraisals, and this was my first penny stock. So chill out on me. As I said before, I don't mind doing the extra effort of sending and posting questions/information. Now this sounds like he said she said between you and Nik at Medify. I for one don't have a clue who you are. But we all have had the chance to get to know Nik and he has come forward with us to set things straight. Now of course he is far from finished with getting us the answers we need, but I think he is trying. Good luck Bob
Tom
I will follow up with sending posts and questions to Medify, that I think we need answers to. I became moderator ONLY to protect my investment and try and get answers using the help of the collective investors on this board.
Capt Bob, I sent most of your posts to the Medify investor line and this was the response that I received:
Dear Tom
As I know I follow the board on Ihub, and, in the circumstances, am a little disappointed after reading the post from “Capt. Bob”’.
The individual posted as Capt Bob contacted me to say inform me that his contact at IBM had found out the there was nothing viable about the company in the UK. This was a little surprising as we are in bi-weekly contact with a senior IBM UK executive, who is fully aware of the company.
I invited Bob to send his representative to contact me (I gave him my numbers), and then come to the office so that I could show him everything we are doing, along with current customer contacts so that his representative could speak to paying customers and agree we have a viable live product. This offer was initially accepted and then declined. He sent an email a day later saying that his guys (field service engineers) had completed a detailed report and done all the legwork and found out there was nothing available information wise. Bob said that he was going to sell his shares that day and then not comment any further.
Having extended the invitation I am more than a little disappointed. It is yet another instance of the company trying to openly extend information and having it used for a negative attack in an anonymous public forum.
If you would copies of the email traffic surrounding this conversation I would be more than happy to supply them.
In addition, I would like to thank Capt Bob for his comments on my previous role, and advise him to look under “sense of humour” on Wikipedia. We had one of those when we worked in the highest level of motorcycle sport in the UK. I notice he has neglected to mention that everyone else’s profile in that list is written with a humourous angle.
On top of this, Bob than asked if his mate, who had done the investigation, could drop into the office to talk about motorbikes!
Furthermore, whilst I am writing to you, please let me address the questions posed in Captain Bob’s insightful email.:
1) Ask them why they are filing a 15c211.
There are two options with a 15c211. The first is to post it on the pink sheets, as nothing more than an information point. The second is to file it, via US legal counsel, with the NASD. This is the route we are currently taking. Filing means that we will have a fully reporting company, with audited accounts, full disclosure on all share transactions etc. Additionally, we can recruit a Market Maker Sponsor. For the first 30 days after filing the 15c211 the Market Maker Sponsor has exclusivity for 30 days, allowing the PPS to recover.
2) Ask them about Oracle, Vodafone, Dextra, EMIS and the article in the Sentinel.
What would you like to know? I have a meeting on Monday with Business Intelligence Direct, part of Oracle’s salesforce and lead generation. Vodafone, I’ll update you as soon as I have the answers I am chasing. I was promised that the Certified Partner list would be updated four weeks from our approval, and it hasn’t been. I’ve chased it and am waiting for an answer. Dextra? Sell mobile phones and airtime contracts for us. Not MedifyRemote. EMIS. We’re just finalizing the latest software update with them. The Sentinel? It’s a newspaper. They saw a release from Dextra and did some research and wrote a story on us. Newspapers do that.
3) Ask them who the MM is?
No problems telling you that, once the contracts are signed and the 15c211 is approved by the NASD.
With Best Regards
Nik
Nik Ellwood
Head of Sales and Marketing
Medify Solutions Limited
Email: nellwood@medifysolutions.com
Web: www.medifysolutions.com
Solid, and all I am in the process of putting together this weeks list of questions. I think we should address our questions in the fashion of updates or status. Remember the K.I.S.S. principle( Keep It Simple Stupid). All suggestions are welcome. To start I will send questions on Friday morning. Thanks
T
On the Oracle website! Even they stated that "MedifyRemote achieved a world first on 17th Novemeber 2006 when a GP accessed live patient notes information for the first time via a mobile device."
I THINK THIS IS GOOD NEWS !!!!! Remember the right path!
http://solutions.oracle.com:80/partners/medifysolutions
Poker to your question on the 15c:
Dear Tom
Many thanks for forwarding this question to my attention. Please find my answers below.
Best Regards
Nik
Nik Ellwood
Head of Sales and Marketing
Medify Solutions Limited
Email: nellwood@medifysolutions.com
Web: www.medifysolutions.com
--------------------------------------------------------------------------------
From: Tom
Sent: 20 February 2007 17:01
To: investors
Subject: Filing question
Quick question about a 15c211.
This will be the third 15c211 filed since August 2004. (1 as Secutrieyes and one as Medify Solutions.) I am trying to determine why file another one?
Whilst this statement is almost correct, there is a little bit of info missing.
It’s true, in the past the Company has posted a 15c211 with the pink sheets.
However, this is fundamentally different from filing the 15c211 with the NASD. Filing the 15c211 with the NASD means that the Company will be fully reporting, including complete disclosure on all share transactions.
So there are many benefits to shareholders. Posting to the pink sheets is more for general information and not a formal filing. Additionally the filing means we have been able to recruit a Market Maker Sponsor. It also gives the Company the opportunity to move to the Bulletin Boards when the time is correct and all other requirements have been met.
A 15c211 allows a non-reporting company to trade on the pink sheets. A Company may file a Form SB-2 with the SEC and then later a 15c211 to be an OTC:BB company. My assumption is that this is why we have never seen them affiliated with the SEC (10-K and Q reporting, 8/k's, Form 4's, etc.) because they had not filed a SB-2. Unless, they are also filing an SB-2 with the SEC to become an SEC reporting Company and trying to get to the OTC:BB, I do not see the reason for a 15c211.
Actually, the SB-2 is the form used to register the shares in the company so that they can be sold on an exchange. The SB-2 is only issued when the company first comes to trade on an exchange.
I hope this helps to clarify things.
I second that BV no more attacking people on this board please.
Thanks Purple. I will do my best with my research and getting questions answered for all investors. Lets give Ian & Nik the chance the deserve. I think this company is on the right path, so lets get behind Nik & Ian for the next 6 months and see how they do.
T
I will keep a list of questions and then send them to Medify on Friday mornings. Be specific and to the point. Use the KISS principle " Keep It Simple Stupid", and number them so it is easier for me to copy save and re-post. Thanks
Good luck to you to Solid.