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Monday, October 01, 2007 6:22:05 AM
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
The Baum Law Firm (“TBLF”), a firm in which Mark L. Baum (our former Chief Executive Officer and a former director of CMNI) is the principal, previously provided legal services to us. In satisfaction of all amounts payable to TBLF, we issued to TBLF an aggregate of 465,241 shares of our common stock. TBLF sold these shares to Thunderbird Global Corporation, a selling shareholder. In connection with the transaction contemplated by the merger transaction described above, on December 30, 2005 we repurchased all of these shares from Thunderbird Global Corporation for $500,000 in cash, 600,000 shares of our common stock and a warrant to purchase 600,000 shares of our common stock. Thunderbird Global Corporation subsequently transferred 150,000 of these shares and a warrant to purchase 150,000 shares of our common stock to Firle Trading S.A., a selling shareholder.
http://sec.gov/Archives/edgar/data/104401/000119312506080506/dsb2a.htm
And read this April 2007 filing 10k......it also states that BAUM and THUNDEBIRD are related:
On February 22, 2006, we terminated our agreement with The Baum Law Firm as our
special counsel. In connection with this termination, we paid The Baum Law Firm
$30,000 and issued it 60,000 shares of our common stock. Mark Baum, the prior
sole director, principal executive officer and principal financial officer of
our Company prior to December 31, 2006, is the managing of The Baum Law Firm.
Mark Baum continued as a director until January 13, 2006. The Baum Law Firm was
contracted to provide services for special counsel, which was terminated on
February 22, 2006. Mark Baum is also associated with Thunderbird Global
Corporation, one of our largest stockholders. The closing market price of our
common stock on February 22, 2006 was $3.00.
http://sec.gov/Archives/edgar/data/104401/000119312507081884/d10ksb.htm
So, you see,,,,,,I am not impressed. Although, by the looks of it, BAUM is probably a multi-millionaire. So, if he likes ACCR as much as I do.....maybe he will bestow a profitable good business to the stock. He doesn't need to do a reverse split, because, in my opinion, he already controls a good chunck of the common and the preferreds. So common sense tells me that people to NOT reverse their own equity. Unless, he is trying to extract and gut as much equity from the common stock....and when he gets alot of money from the common yo-yo plays....maybe he will then kill the common. They have 248mln votes. They, at this point, can do anything they wish and like with ACCR.
I'm going to pour some JW BLACK in my coffee now.
Later.
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