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Dear Jim,
I agree but there is something troubling in what you said. The fact that there is doubt in your mind as to whether I committed some financial impropriety manifests a serious wrong. I have always acted in the most upright ways and the Quadlogic lawsuit is nothing more than spite to cause me financial and reputational harm through the misuse of the court system.
Jim,
At this point I will be very happy if they sell the company at some price higher than the market. If I find out after it happens, so be it.
Thanks,
Sayre
Does anybody care about this stock? What about timely meetings? What about timely reporting? Did the board cancel the $4000 per month fees for directors? How does the current year look? What's going on at Quadlogic?
Does anybody care about this stock any more? Are you going to let the board get away with breaking all its promises? Where's the meeting? Where are the reports?
Thank you
You don't understand why I'm offended. It has nothing to do with you questioning my performance as CEO. That's fair and understandable.
Go back and read line #5 of your post #84.
In March 2017 I lost all my operational authority including the billing department. Mr Sirius, John B has reported to Marc Segan since March 2017. Please call Mr Segan or Mr Wirth to get the company's point of view on Mr. Cool's accusations. I think they pertain to very old information. In addition I have no way to answer your questions about product strategy or strategic plans of the company. I can read a balance sheet as an outside shareholder and raise questions which I have done. I know nothing about internal operations. I haven't set foot in the offices of Quadlogic since April 2017. I'm very unhappy with your insinuations about my relationships with Anna and John. I deny Mr Cool's accusations. I thought as outside shareholders we had common ground. This blog has become useless as an investment tool.
My character is being attacked and I can only say it is untrue.
I did not hire Anna, and never knew her before Michael hired her. I promoted her. John B did have experience and apparently Marc thinks very highly of him.
I think scools is someone that John B and Anna let go from billing a few years ago.
They promised to sell the company. The billing business as a separate entity should be worth around $1 per share. One problem is the lease on the space. It will need to be broken, paid out and that would come off the top of any sale of the billing business and closure of the rest of the money losing metering operations.
I don't know if any of you is planning to go to the shareholder meeting whenever it is.
Sayre
The G&A is up also because Marc Segan has spent millions on legal bills.
Anna Martinez is a wonderful woman and a great HR professional. She reported directly to me. She's wonderful. If you know of opportunities please tell me.
They posted a $7,000 profit compared to $287,000. But they transferred $1,000,000 of royalties from FY 2017 to FY 2018. These were the 5 months of revenues from shipments made by Mexico in FY 2017 (CY 2016) and paid in March through July of 2017, which is FY 2018 at $200,000 per month. Changing the accounting to a cash basis based upon the fact that Mexico stopped paying unexpectedly after July 2017 moves $1 million into the FY 2018. The $1 million belongs in 2017 and if it's in 2018 it should not be considered anything but a one time item. The profit from continuing operations should be considered a $1 million loss in FY 2018
Has anyone heard anything about timing of the year end results or a shareholder meeting?
They are suing me and also suing the Mexican company. Two different lawsuits. They accused me of inducing the Mexicans to break their contract with Quadlogic.
Their claim against me is demonstrably untrue and it's a big waste of money. Marc Segan is highly litigious.
I have publicly responded to Quadlogic in their suit against me. They have no grounds to sue me and have implied that I caused the loss of the Mexican business. I am utterly innocent of what they claim against me and I intend to protect my name by any means necessary. Quadlogic is spending their R&D money trying to buy Chinese technology to replace the fact that they drove away their main technical asset (me). I have 1.6 million shares but they are going down in value. Fast.
There is no reason you shouldn't know the ownership of the board. I don't have exact numbers but from my memory, here it is:
Doron Shafrir 1,000,000
Israel Averbach about 800K in his name and about 500K in street name
Peter Fagan about 850K in his name
Walter Fiederowicz about 300K plus some in street name
Yona Yehudai about 300K in her name
Not on the board, Marc Segan has about 400K in his name and street name
There are (or were when I left in August 2017) around 11.5 million shares outstanding. I have approximately 1.6 million shares.
I know less than you do because I have no communication at all with the company - not even with Michael. The board owns a lot of stock and they say they are going to sell the company. However, they put Marc Segan as CEO (Managing Director) and that is why I left the company. He is highly litigious. I don't agree with that approach but I'm an outsider now. I have 1.6 million shares and I don't count on them at this point. I've moved on.
Are you still a shareholder of Quadlogic?
I strongly disagree with the statements made about me in the company's letters. I have since left the company and I do not believe the company is better off without me. I am an outside shareholder at this point - a very large outside shareholder.
It seems that the price of the stock has not improved since my departure from the company in August of 2017. It has fallen from around $1 to around $0.25 as of today.