Pulling a BlueDiamond here:
driver4t3
Jan 26th, 2007, 01:31 PM
post from all stocks, from jenna.
posted January 26, 2007 12:20
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Ms. Black was very nice....She explained that she could only tell me what is already public knowledge via the court documents. She did say they have a man that is taking phone calls from concerned shareholders...his name is John....I do have his number....I will PM it to anyone that wants it....She said she deals more with witnesses & evidence.....& John answers shareholders questions. Here is the gist of our conversation....I do not want to put her answers in quotes being that I just took notes & it would not be her exact words......
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Jenna: "How is the investigation going?"
Ms. Black:
-Both parties need lawyers, neither the company or Mr. Harris have attorneys.....
- currently in default process- not the same as entry or default judgement.....
-Judge needs to be shown proof
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Jenna: "There are questions about who the CEO really is....Rufus is claining that he is the rightful CEO..."
Ms. Black:
-Great Question.
-Someone has to review the companies bylaws.
-SEC is not looking into that at this time.
-If Mr. Arlitt gets a lawyer to represent the company, that means it's up to the companies lawyer to make sure John is the legal CEO....The lawyer would have to confirm it through the bylaws of the company.
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Jenna: "Is John Arlitt working with the SEC, is he frequently in contact with you?"
Ms. Black:
-unfortunatley can't comment on who they are working with or communicating with regarding the case.
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Jenna: "Is the FBI currently involved in the investigation?"
Ms. Black:
- can't comment, but frequently do involove other government agencies during investigations
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Jenna: "Are there any other individuals being investigated regarding Conversion Solutions?"
Ms. Black:
-can't comment but Rufus is the only one named in compliant...He is named in complaint because the SEC is confident they have enough evidence to point to fraud. The default needs to be answered by an attorney before this can move on...
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Jenna: "Do you know of anything new on Pacers or anything that may be coming out on Pacer's soon?"
Ms. Black:
-we don't know it until it comes out....we have nothing on our side- if something comes out on Pacers it would be from the other side....
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Jenna: "One of the times you were all in court Rufus handed the judge a sealed envelope are you now aware of what is in it?"
Ms. Black:
-envelope was entered as one of many exibits by Rufus Harris....he was entering them himself, as evidence, because there was no attorney present...the judge told him this would be the last time he could speak for himself....in the future, he would need an attorney....the envelope contained some codes....he did not want these entered as public exibits because if someone had these codes they could change ownership ...she said she could share this with me because it is a matter of public record....
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Jenna: "We just want this over- we want whoever is responsible to be prosecuted- if there was a fraud committed......what happens if you do find fraud - how would we get our money back?"
Ms. Black:
- SEC's goal is to provide relief monitarily...
- the SEC sets up a fund - any money recovered will get distributed....
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Jenna: "IF, in fact, you find Rufus has comitted fraud - How anything could be recovered if he has his assets in a trust..."
Ms Black:
-having assets in trust doesn't necessarily mean it can't be touched.
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driver4t3
Jan 26th, 2007, 01:32 PM
part 2
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Jenna: "We (the shareholders) are tired & just want this done....we hope that the SEC is in this to protect us..."
Ms Black:
-Our lives are on the line- our reputations are on the line..
- they wouldn't risk there lives & livelyhood to make something up
- they believe they have a case & would not pursue it if they didn't....
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Jenna: "There are 2 bonds named in the complaint does that mean the other assests are not being looked at & that they are not fraudulent?"
Ms. Black:
-just becausse something is not in the complaint doesn't mean it's not being looked at...
- the SEC is looking at all the assets that are claimed
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Jenna: "If Mr. Arlitt obtains new assets & does not include the old assets would that get the company in compliance or end the investigation of the company?"
Ms. Black:
- that's would have to be talked about when the case is opened up again....first he needs a lawyer & then these things can be discussed
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Jenna: "Can you work with John Arlitt?"
Ms. Black:
-"That's a tricky situation...."
-Corp. needs an attorney....
- The attorneys duty to find out if John is the CEO.....Then the attorney needs to file a Notice of Appearance....
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Jenna: "What does the company have to do to get compliant?"
Ms. Black:
"First, get an attorney."
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Jenna: "Are you filing charges against Rufus?"
Ms. Black:
"The charges are in the complaint - those are the charges."
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As far as a proxy vote goes....she said that she can't comment on that for the company ...she doesn't know anything about it...I was asking her a general question like who can distribute a proxy.....
Ms. Black was extremely nice & a classy woman....She sounded like she genuinely cared for the shareholders....I told her I belonged to a website & that we all had these questions... she also said if anyone else has any more concern & want to talk about it to call John at the SEC office....like I said I would be glad to give his number via PM.....The reason for that is I feel if I post his number he will be bombarded with calls all at once....if I give it via PM maybe it will reduce the volume of calls....
I hope these Questions & Answers helped....it looks like we still aren't 100% sure who our CEO is.....
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2007 = Big Money!
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AI
