Xechem International Inc. (fka XKEM)

[AMA1]

Guys, I found this on the internet while searching for a bankruptcy attorney. Looks like we can write a petition signed by all shareholders with all our share count, show up in court and ask the judge to approve an examiner to explore our situation. If we must do this, let's start the process. LMF we would appreciate your leadership in this efforts. Many thanks.



Media Contact Letter

Amr A.
122 days ago |
An amazing thing happened on Monday August 4, 2008, and you guys might want to follow the situation. Shareholders of bankrupt US-based LCD TV maker BRLC Syntax-Brillian
actually showed up in Delaware bankruptcy court on Monday and convinced a
judge to appoint an independent bankruptcy examiner to explore the tangled
web of inter-relationships between Brillian, Kolin, TCV and DigiMedia.
This was in opposition to what the company and its DIP financier
SilverPoint Capital asked for. Despite high priced attorneys on the other
side, shareholders won!
There may be a way for shareholders to get a bit of money back even after
BRLC told all shareholders on July 7 that their shares were worthless.
Please follow this incredible story of shareholders sticking it to the
vulture investment firm that's trying to take their money! You can go to the message board http://groups.yahoo.com/group/olevia for
more info get this Arizona Republic story that came out today (BRLC was based in
Tempe, AZ): http://www.azcentral.com/business/articles/2008/08/06/20080806biz-syntaxbrillian0806.html or contact the shareholder who is leading and coordinating a national campaign to stop this bankruptcy via the use of www.petitionsite.com as
well as appeals to the US Trustee and the Delaware Court. Contact Amr M Amr, petition Organizer and Shareholder via at: [e-mail] .
Please follow this story and report on it, to get an examiner appointed in
such a case to represent regular shareholders is pretty monumental. This may be a huge story uncovering some of the methods predatory lenders
use in dealing with companies that are strapped for cash. It also should point out misleading statements that were made to the investing public where thousands of investors lost millions of dollars. Shareholders showed up in Delaware bankruptcy court on Monday and convinced the judge to appoint an independent bankruptcy examiner. One of the reasons the judge approved the examiner appointment, is that individual shareholders with 10s or 100s of thousands dollars at risk of being lost, signed two petitions, and wrote to the court about misleading statements that were made to the investing public, and a lack of financial reporting (where is the SEC?). http://www.thepetitionsite.com/1/block-round-2-syntax-brillian-brlc-chapter-11-filing-by-the-court and http://www.thepetitionsite.com/1/block-syntax-brillian-brlc-chapter-11-filing-by-the-court When I submitted the petition, we had 430 signatures, we now have over 550, representing ownership of over 6 million shares (7 percent) of the 90 million shares outstanding. What this means is that 2.5 % of the shareholders, owning nearly 7 % of the company, convinced the judge to appoint an independent bankruptcy examiner to explore the tangled web of inter-relationships between Brillian, Kolin, TCV and DigiMedia. I am sure that MANY MORE shareholders would have signed the petition and actively opposed to the bankruptcy, had Interim CEO Greg Rayburn and his questionable financial partners at "Silver Pointe Capital", not stated in the Chapter 11 Bankruptcy filing that their shares of Syntax Brillian were "worthless". Comments entered with signatures in the petition are compelling and have a consist theme: 1) assurance by management that financials are fine, 2) interim management is getting things in order; 3) have a great product, which we can't keep on the shelf; 4) we have 120-plan, etc. Indivudal shareholders looked at the fundamentals, and rightly stayed the course with their investment. Now it turns out that not only is there investment at risk, but we also have no stake in the new entity. The interim management is suggesting it be sold to - a Foreign Company getting our hard earned savings, so that the company can continue to operate - offshore. Feel free to contact me regarding this important issue. Thank you, Amr M Amr, Petition Organizer and shareholder Seattle, WA [e-mail] or [e-mail]



This post was modified from its original form on 09 Aug, 9:09