PowerLinx Inc (PWNX)

[shamus]

To Rich McBride:

Let me see if I understand this: First, SeaView issues a press release stating that George Benardich and others in the new management team will invest "500 thousand dollars" of their own money in a private placement to fund company operations. In the same PR, they say that you, McBride, will additionally invest "a million dollars" in a private placement, thereby infusing a total of 1.5 million in new capital to fund Secureview production, blah blah.

Now we learn from the 10Q that only $318,000 in actual cash has been raised in the PP -- at a cost to shareholders of massive dilution -- not to mention the 3-card-monte-like games that were played with your loan "payback."

And what do you have to say for yourself? Duh, "the PP was not my idea, period." "This area is no longer under my control." "My tenure is over."

With such Clintonesque statements, Rich, I'm only surprised that you didn't add: "I never had sex with that woman, Ms. Lewinsky."

C'mon, Rich, tell us the truth: How much of "their own money" did George B. and the other senior managers "invest" in this PP? Such a simple question, but one I'll bet we'll never get answered.