Raiderman, thank you for your well written answer to my post and for your passion towards benefit of the shareholders.
However, I disagree with you in a few aspects.
1. Shareholders had a couple of very good chances to remove the BOD of Loch Harris in 2001, and both chances were opposed and destroyed by shareholders, one of them even a plaintiff of the Settlement. You surely remember the effort started by Robert Stewart to mobilize the shareholders and remove the BOD, even before the Asset Purchase Agreement was signed. His movement failed miserably with the timely intervention of capnmike. We never knew why, but the events that took place afterwards may show some reasons. I believe it would be a little naive to discard the intervention of Malcolm Philips behind Stewart's work, especially as I provided a clear and unequivocal proof of the very close relationship between them at that time. Was Stewart's movement Malcolm's idea? I believe it was. And many, many shareholders supported the movement. Why then did capnmike appeared in the play and destroyed it? Why so little time afterwards the Service Agreement was signed between Loch and Phillips? Why the Asset Purchase Agreement?
Mike never came clean about his intervention, which is suspicious enough as to not trust his work and intentions. Shareholders had a very good chance to take the company from the Boys and place a shareholder friendly BOD in their place. It never happened. Why? Either you know the answer and don't want to talk about it, or you don't know.
Why is it that the distribution was never included in either the Derivative Action and the Class Action demands?
Why is is that the shareholders meeting with the purpose of removing the Boys WAS included in the two actions and never followed through?
You say that the Settlement was the best deal you were able to negotiate with the Boys. Good for whom? We are two months after CDEX has been in existence for over two years, and there is no sign of registration, contrary to what Malcolm Philips has promised in his CEO statement.
Your assumption that any legal battle against the Boys would have delayed CDEX plan for years is false. The Legal action in no way were disturbing CDEX or Malcolm Philips. They were never in any danger of being dragged into the litigation, so they were safe and free to do with the technology what they wanted to. If they didn't so far, has nothing to do with the legal actions of Loch Harris and its shareholders. Malcolm Philips has miserably failed to honor (once again) his word. And that is the person you all are hoping to save your investment. In November last year I offered myself to Malcolm Philips to initiate a solid public campaign to promote the technology and its applications. He refused saying that as of January 2003, CDEX will start an aggressive campaign in the media. That never happened either.
I don't want to take away your merits for the effort you have put into the Settlement. But you either know more than the rest of us and refuse to say it, or you are also another victim of the manipulation and the scheme of the Boys, the attorneys and Malcolm Philips.
AI
