Cornell has nothing to do with Sales!
The Cornell issue is one of "Serge's" issues and nothing to do with the operation or sales in the valve business. Cornell has never interrupted sales of valves. Either the company knows how to do business or it doesn't.
If Cornell converts its warrants to shares ...there is no impact on share prices, but only dillusion.(more shares out there for sale) .which puts more shares in the market place that are available. Since SVMI has never paid Cornell anything on the debenture (contract) Cornell has not bled SVMI of any cash nor interrupted operations. If SVMI had sales from legitimate companies those sales are bankable for SVMI to produce those valves ..so there is no legitimate reason from an operational stand point to say: "Cornell is interrupting business". SaviCorp has never moved beyond the testing stage with any company.
It's a control issue. Serge controls the company with his and the Officer's/Directors of SVMI at the present time. Should Cornell exercise their options on the Debenture..they will control SVMI. That is the issue. Serge is fighting for his control and life on this issue. It has little or nothing to do with reporting financials, operations nor reporting by the company.
I do believe that Edgars Reports (OTC reporting entity) have rejected Serge's attempts to file reports because of the irregularities with the sales of 144 shares and the lack of reporting to the SEC, etc. I believe that there exists irregularities or disparaging issue in the float that can only be resolved by a settlement with Cornell and gaining the release of those shares optioned under the Cornell Debenture agreement. Serge is in a pickle ..that's is my take on the problem.
There is a 1 July 2011 expiration date for the warrants (and perhaps the Option ..I haven't re-read the contract lately)But Serge is hoping that Cornell (Yorkville will cave in by then....or he can get them to accept a deal. Yorkville has made a demand for full payment and Serge has been offering a fraction of that money owed...only time and circumstances will tell the outcome.
Meanwhile, the SEC, I'm sure, is looking into the situation and investigating their issues with SVMI and Serge & Co.Numerous 144 shareholders have contacted us regarding their plight and are discussing these issued with the SEC. If one wants to contact them directly for clarification, they should. There is an open file on this matter and I'm confident that the issue will be resolved one way or the other.
Contact:
Division of Enforcement
Securities and Exchange Commission
5670 Wilshire Blvd., Ste. 1100
Los Angeles, CA 90036
Tel: 323/965-3847
Fax: 323/965-4513
This is my take on the matter and situation at this time. Just to clarify this discussion on the board.
It's really time for Serge Monros to come out of the closet and address this issue publicly to clarify his position on all these issues for everyone..instead of going quiet and withholding the truth. PR's about "fictitious business" is not what we are looking for...but real facts and addressing the share and Cornell issues.
IMO
AI
