Michelex Corp (fka MLXO)

[sawdin]

When you communicated with Kakani, did he elaborate at all on what the 'impasse' was with Michelex? By Michelex, I'm assuming he meant:

1) Gramuglia

2)Prior creditors (who they were aware of when they took control) that still have claims against Michelex.

3)Prior creditors (who they were NOT aware of when they took control) that have surfaced with claims against Michelex.

One would hope that they did their DD and were aware of all existing claims and that they entered into contractual agreements to settle and dispose of all existing claims. They have a fiduciary responsibility to provide that information to investors. Of course, we have little recourse if they choose to keep pertinent information 'secret'.