RushNet Inc (RSHN)

[sojourner]

entophile: RSHN management has thrived and prospered at the expense of trusting and loyal shareholders who closed their eyes and hoped for the best, as history clearly shows. There are others who choose not to do so. Meanwhile, based on due diligence from APRU filings and recent reported comments by our Maestro of Bait/Switch, it appears Mr. Corr might be setting the stage for a renunciation of Rushnet, Inc, leaving investors with absolutely nothing of value. One way to possibly prevent or forestall this is by ferreting out the real skinny.

To crystallize the argument: connecting the dots on this data signed off by the CEO:

1) APRU filing 9-30-2007 ONE stockholder contributes Apple Rush brand name and receives $288,235 worth of stock equity. Bob Corr owns 100% of Apple Rush brand name.*

2) APRU filing 6-30-2007 Aforementioned $288,235 stock equity (88% of APRU) allotted to founders (i.e., the "one stockholder" Bob Corr). No mention of RushNet Inc anywhere in either signed APRU filing.


*"In 1980 Robert Corr purchased the trademark (Apple Rush) of the then defunct company for eventual use by his privately-owned natural beverage company, Rush Beverage Company."
http://biz.yahoo.com/bw/071102/20071102005179.html?.v=1

Re: APRU dividend 12.31.2007
Our good Capinvest asked Mr. Corr the following question to which he received a famously squirrely answer, setting the stage for potential dividend default. For example, "lawyers couldn't agee on SEC rules," or "RSHN dividend receivers will drive APRU down (restricted share excuse), or "in the best interest of APRU shhareholders, we have to default, blah blah."

(Note: In my view, if Corr ever offers a dividend, I expect him to frame it as a "gift" to RSHN holders, not an obligation. This is in keeping with eventual renunciation of the PR'ed 45% stake in APRU.)

(Question:) Where is the share distribution to current shareholders?

Answer: He (Corr) claims that they are receiving conflicting answers from the two law firms they have hired to manage the stock dividend. He also claims that the float will be 16Million initially with 8.9 slated for RSHN shareholders. He said the difficulty in all of this is that shareholders may not show patience in APRU and drive the stock price down as they attempt to recoup some of their losses via RSHN.