e.Digital Corporation (fka EDIG)

[Tinroad]

If I were APS, I'd be asking for a cash only deal; looks like Netvan/COHIA may owe a few bucks to the Man if the Jan 15th '03 retraction was acceptable:

Litigation Release No. 17741 / September 24, 2002
SEC v. Composite Holdings, Inc., aka Composite Industries, Inc. fka World Homes, Inc., and Merle Ferguson, Case No. CV-S-01-0658-PMP-LRL (USDC D.Nev.)

On September 13, 2002, the Honorable Philip M. Pro, United States District Judge, entered an order holding Defendants Composite Holdings, Inc., aka Composite Industries, Inc. fka World Homes, Inc., and Merle Ferguson in civil contempt for violations of the January 14, 2002, Judgment which, among other provisions, enjoined Composite and Ferguson from violations of the antifraud provisions of the federal securities laws.

The Court further ordered that Composite and Ferguson will remain in contempt until such time as Composite and Ferguson have conclusively demonstrated that they are not engaging in conduct enjoined by the January 14, 2002, Judgment. The Court also ordered that until Composite and Ferguson purge themselves of the contempt by conclusively demonstrating that they are not engaging in conduct which violates the January 14, 2002, Judgement, each defendant will pay a penalty of $120,000 plus $5,000 per day until they have corrected their false and misleading public statements.

http://www.sec.gov/litigation/litreleases/lr17741.htm

And to add a little spice to the soup, there's a Sony/Motown/Marantz connection!!!

"Merle Ferguson (Chief Executive Officer)
Mr. Ferguson spent 22 years in the construction industry, as a real estate developer, in California, Oregon and Washington States. His professional motivation was in creating affordable, quality homes for first-time and low-income homebuyers. In the early 1990s he began researching non-timber construction materials and methods, frustrated by the engineering limitations and poor quality at the low-end of the market, and recognizing the impending significance of worldwide deforestation. Domestically, the market for alternative building materials is at the high-end, but Mr. Ferguson perceived the need for durable low-cost housing of high construction standards and energy efficiency, in the U.S. market and in the huge percentage of the world that lives in poverty.
In 1997 Merle's research paid off. He was introduced to Joseph Zawada, the inventor of Z-MIX and co-founder of Zawada Technology, who merged into Merle's company, which is now Composite Industries of America, Inc. (OTC BB: CIAI).
Through this merger Merle was introduced to the high tech building materials world and immediately began to explore the potential to build low cost, durable housing solutions without using timber. Today, Merle, has put together an impressive, experienced team of professionals that includes Bill Morris, one of the founders of SONY, former president of Sony/Marantz, CFO of Hollywood Reporter, CFO Motown Records and many other successful and world renowned companies. Bill, too, prior to joining CIAI, had committed himself to finding a solution to the high cost of housing. Together, Bill and Merle have successfully negotiated contracts to build hundreds of thousands of homes for over 15 foreign countries, working directly with the heads of state in most cases.
William Morris - Chief Financial Officer
Bill Morris has been a Chief Financial Officer for 27 of his 38-year career. At one time, he was the youngest CFO of a New York Stock Exchange company, at Sony/Superscope, Inc. Before he came to CIAI, he was the President of his own consultancy firm, William Morris, where he used 38 years of acquired expertise in corporate financial matters. Mr. Morris has been CFO to companies with the polish of world renown-Motown Industries, The Hollywood Reporter, the Marantz Company, Inc. of Japan. Bill Morris brings to CIAI three decades of invaluable experience, and his talent and intelligence already are moving the company in new and strategic directions. In recent weeks, he has finalized with Merle Ferguson the hiring of Presidents for each of CIAI's Subsidiary Companies."

http://www.otceagle.com/eagleboard/messages/579.html

We seem to be living in interesting times.