Replies to post #10982 on PowerLinx Inc (PWNX)

[Francois+Goelo]

Proxime, McBride was forced to resign...

by virtue of the SEC enquiry, in my opinion....

That he is attempting to control a majority of SEVU's shares for a Measly ± $1.7 million, probably to be paid when he can borrow more money from SEVU Cash Kitty, is a forgone conclusion, in my view...

That he will eventually succeed is very doubtful...

JMHO, F. Goelo + + +

[Francois+Goelo]

***¶*** McBride/Hotshot-Attorneys LOSE 1st ROUND!!...

Here is the chain of events:

1) FG denounces McBride's manipulation of SEVU stock and Cash for his SOLE benefit...

During the last Quarter of 2000, McBride took $512,000 in Cash out of the SEVU Kitty for his personal use, leaving SEVU with only $41,000 at the end of December 2000... Then, he ILLEGALLY, in my view, sold 350,000 of his RESTRICTED shares back to Cash-bereft SEVU, INSTEAD of refunding the $277,000 he owed... From the 10Q:

During the year ended December 31, 2000, the Company accepted several
non-interest bearing notes from a former officer of the Company, with a balance
of $512,757 at December 31, 2000. The notes were collateralized by 6.5 million
shares of company stock. During the six months ended June 30, 2001 $235,000 of
the balance was repaid in cash. The remaining balance of $277,757 was repaid
through the return of 353,575 shares of the Company's restricted common stock to
the Company's treasury.

http://www.investorshub.com/boards/read_msg.asp?message_id=162885

2) McBride makes Legal Threats, claims to employ the best Attorneys BUT CONCEDES...

http://www.investorshub.com/boards/read_msg.asp?message_id=162169

An offering like this requires payment of real money, not credit. This area is no longer under my control. The companies SEC attorneys and management have put this together. It is not some wild unheard of event that violates any laws. The company SEC law firm, Foley & Lardner is one of the biggest. The SEC law firm handling the ongoing communication and contact with the SEC was also involved.

Then he says that he wasn't aware that the alleged deception would become public so soon:

I was not aware until yesterday that the unpaid balance of the PP would be listed as a receivable.

Finally McBride sheepishly acknowledges that he may have done something ILLEGAL that he needs to correct ASAP, perhaps after having his Hot-Shot Attorneys look into it again:

I will look into the repayment of my $500,000 dollar loan. Part of it was paid with stock. I will move forward in the proper procedures to change this to cash.

http://www.investorshub.com/boards/read_msg.asp?message_id=162949

3) Summary of VICTORY over McBRIDE....

After being exposed and cornered, McBride finally agrees to return to SEVU the $277,000 CASH that he had virtually "pilfered" earlier, making the payment of the first $320,000 installment of the CROOKED PP REDUNDANT... Unfortunately, it's too late, as the damage to SEVU and shareholders has already been done and, in my view, his liability is evident...

It shows that McBride is BLUFFING when he claims that he's acting Legally and under the advice of his Attorneys, since they reviewed this 10Q and let the matter slide...

There will be more Victories to come against McBride: I was instrumental in getting him to step down, now he's FINALLY refunding the Money that he appropriated and soon I expect him to no longer have anything to do with SEVU by Court Order... His shares may come handy to pay Damages to shareholders, if such are awarded...

My Honest and Heart felt Opinion,

F. Goelo + + +