Identa Corp (IDTA)

[urka]

Mike-------It sounds to me that Yaacov got caught parsing his statement, and that he may have received legal advice that further elucidation would be prudent to dispel the misleading perception that his original statement presented.

In view of what some shareholders perceive as suspicious stock transactions, bolstered by Yaacov's own assessment, I am of the opinion that Yaacov now has a fiduciary duty to his shareholders to release all pertinent financial information, except that which is clearly proprietary or that which is necessarily confidential for merger discussions.

Because Identa is on the pink sheets they need not promulgate certain information, but Identa is still liable for a breach of fair dealing, and highly liable for the adverse consequences of publishing misleading information. When Yaacov published his opinion that the share price would be 0.02 at the end of this year, he assumed the burden of setting forth the facts upon which he based his opinion, and his not doing so will make him liable to those who may lose money on that opinion.

Yaacov has finally succeeded in arousing my competitive instincts, and I will now devote considerable effort to preparing my case.