aLOha Tim...good to see you posting! I noticed you didn't subscribe to the ChairMail feature (see previous post #33 to YoAfter9) but it is a neat feature and I don't normally take the time to send out multiple mailings to my RB email list...
just thought this time was important enough... although in reading Rouster's post to the RB after spending only 1 1/2 hours on the amended filing makes me think with some I am wasting my time trying to express early caution until more comes to light.
154 pages, Jeez- got some work to do, LOL. Thanks KP for brining this to our attention. I assumed it was some typo- like the first ammendment. I am shocked this wasn't in the orignal filing. IMO, Red flag comes up with the May Davis Group.
I didn't realize it was 154 pages... no wonder I am tired lol
May Davis is a red flag... as is the dates and how they related to the proxy votes on the 4/01 issues as much of these now made public filings were from March!
... and besides the 1.4M shares to the busted Yorkville Advisor Management LLC deal, look at the additional 400k shares, "On March 13, 2001, the Company issued 400,000 shares of its "restricted" common stock and warrants to purchase up to 200,000 shares of its common stock at an exercise price of $0.25 per share and 200,000 shares of its common stock at an exercise price of $0.35 per share to an unrelated individual in exchange for consulting services rendered. All warrants will expire on August 31, 2001."
May Davis? I don't know but the math doesn't work if they were to get 10% of the aggragate of the $500k debenture placement and what about the needs to have filed 8Ks before now? All these March and May disclosures have been appended to the Q ending 2-28-01? I don't understand why they were made part of that filing?
Until I hear back from the inquiry I sent to the CFO through Barbara at IR, I will have many flags flying...
Lastly, who are the 14 person private placements with? They failed to list those names and have concerns that they are "favored" insiders now are locked into $.10 share deal that could dilute the outstanding by an additional 5+M shares before warrants (etc.)while still guaranteed 5% from current operations...
I am the last person to "bash" rtek but I think valid concerns is more accurate and applaud your desire to research further. Please let me know what you find,
continued best
kp
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