"flashback 96" Here is what Larry Panik said, if fact he even claims that he was in possession of the demo CD and that TMMI does own the codec; How about that!!. 9/9/1996 5:08:00 PM
From: Larry Panik
To all TMm minority shareholders,
I have been quiet for a reason. Hindsight at this point in
time has changed my perception of what has happened over
the last 2+ years. This last weekend I saw a demonstration
of fractals. I hope in the near future to be able to pass
this demo CD or e-mail the file for others to view. I was
impressed on what I saw. It was far superior to anything I
have seen on the internet or any CD-rom that I have
purchased. It was 320x240 when expanded to 640x480 looked
better than anything I have seen to date. So I am still
convinced that the technology is there. SO WHY IS THE STOCK
DOWN???
I was at the October 94 court hearing and heard Peter
Olson, then a vice-president in MCI, state on the stand,
that "IF" TMm was to come out of bankruptcy MCI would be
able to give them enough business to generate $75-150
million in revenues the first year. Then shortly there
after Peter Olson became President and CEO of TMm Inc. Then
proceeded to burden the company with such a great amount of
debt that it almost made the company impossible to emerge
from bankruptcy. Then in the background MCI and ISI strike
deals to give rights to fractals over phone lines to MCI.
This original deal was written into the original ISI-TMm
agreement of 1993. Now Iterated states on their internet
sight that they will be releasing some revolutional
technology tomorrow Sept 10. So where does TMm fit into all
this. I believe, from what I have read in the original
ISI-TMm agreement we have a right to that. I believe (it
will have to be proven in court) that Peter Olson was sent
to TMm for one purpose only and that was to make sure TMm
did not emerge from bankruptcy.
Yes, this contradicts everything I have said in the past
about Peter Olson, but hindsight can clear a lot of the fog
surrounding the company. The demo I saw was beautiful,
better than what I saw back in Feb of 95. So why are the
shareholders holding a almost worthless stock??? Bad
management, maybe even corrupt management. I don't know.
Only the courts can determine that. So why am I writing
this now. I still believe we, as minority shareholders,
have the right to answers. Many of us have purchased this
stock on what Peter Olson stated on the witness stand. Now
out of bankruptcy we need a direction for this company. Is
it litigation or friendly pact between MCI, ISI and TMm? I
would like to see every TMm investor to give this some deep
thought because I believe once this is determined a letter,
fax, and e-mail campaign to MCI and ISI by the minority
shareholder is in order. They need to hear from us. WE DO
HAVE AN IMPACT! I believe we have made an impact before and
can do it again.
This is not the end of what I have to say but something to
start to think about.
Larry
Court Hearing April 8th 8:30am and TMMI TRUDEF moves onward and upward!!.
