Monday, January 15, 2018 4:24:54 PM
Keith M. Berman, Robert Jagunich and William Lyons of the DECN enterprise and most of the failed companies they worked for and current and former merger rumors spouted over the last 20 plus years have litigation and threats of litigation as the common denominator.
These companies they are part of, have a history of suing each other for huge sums of money listed in the complaints. Many times insurance policies are taken out to pay for such litigation claims "at shareholders expense".
These huge lawsuit numbers are made public via press releases and shareholders follow them closely knowing a positive outcome could make their investment a windfall. These speculators offer tremendous liquidity to the markets during the litigation period.
You will notice the companies going through these litigations many times have massive amounts of stock selling during that period.
Here are facts:
DECN states they have insurance that pays for their litigation
DECN states the generous sum they received in their confidential settlement agreement last year will be held in a litigation fund for future litigation.
DECN has issued another 40 million shares during that time, which at the time was approximately 80 percent dilution.
DECN claims 54 million was raised via discounted shares on their accumulated deficit section and less then 6 million is stated as assets on their balance sheet. Office rent is 2200 a month.
Cybear settles suit for $125K, plans a new public offering
March 19, 1999
"In other company news, Cybear recently paid $125,000 to Medix Resources and its subsidiary Cymedix Lynx to settle a lawsuit. Cymedix had charged that Cybear had appropriated trade secrets to incorporate into its own products. CyBear's President and CEO, Edward Goldman, MD, said that the case was "without merit, [but] we felt that it was in the best interests of CyBear and its shareholders to settle this matter on the terms we did, rather than continuing to devote time and resources to this litigation." Medix and Cymedix had sought damages of $396.6 million."
http://www.ahcmedia.com/articles/117710-cybear-settles-suit-for-125k-plans-a-new-public-offering
"From January 1996 to June 1999 Mr. Berman was the President and founder of Cymedix, the operating division of Medix Resources, Inc., now Ramp Corp. (RCO)."
"From April 1996 to December 1997 Mr. Jagunich acted as a director of Cymedix Corporation, the operating entity of Medix Resources, Inc., and later, Ramp Corp. (formerly AMEX:RCO)."
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9225698
"Mr. Lyons,former President of Cybear, Inc. (CYBA) and an original member
of the management team at AllScripts (MDRX), manages the
company's sales and marketing efforts."
https://www.sec.gov/Archives/edgar/data/1144225/000105023403000029/care10ksb.txt
....plus c'est la même chose (the more they stay the same).
How often do you see $396.6 million lawsuits settled for $125 thousand?
Note: It's irrelevant to the above and some might say irrelevant in general because it occurred after their tenure there, but since it's listed in two of their biographies....Ramp Corp filed for bankruptcy in 2005.
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