Replies to post #11832 on PowerLinx Inc (PWNX)

[Francois+Goelo]

TA, the PP has a good chance of being stopped....

because it's a clear case of self-serving and dereliction of fiduciary Duties by Board Members, in my view...

Nothing will happen, provided your father pays all the cash that he owes, the $277,000 he appropriated and around $80,000 in compounded Interests for the average cash balance of some $550,000 he kept from SEVU for 5 Quarters...

Sell, or borrow against the Mineral Springs holdings and, if necessary, do a smaller PP, opened to all qualified shareholders, at a higher price... Don't panic, if the Board doesn't feel up to it, a Receiver may take care of it...

Some of the ideas have already been outlined in the Link below, except that figures will be slightly different, as there was actually no McBride borrowing in the June 2001 Quarter, as mistakenly shown earlier...

http://www.investorshub.com/boards/read_msg.asp?message_id=164868

Just my Personal Opinion, F. Goelo + + +

[Golfnut]

Stop the PP?? Am I missing something here?

Posted by: TAfirehawk
In reply to: paulmk who wrote msg# 11779
Date: 8/23/2001 11:25:53 PM (ET)
Post # of 11866


So we should stop the PP and possibly bankrupt the company with a temporary
injunction????? Has anybody else thought about what could happen if the PP is
stopped?????

JMHO, Adam Jordan

Didn't the $300,000 (20%) down payment lock up the entire 17 million shares. Looks to me like the PP is over.

It also looks to me like no more money for Seaview until the price of the stock goes up. Then Rich, George & the boys can sell some of their current holdings on the open market to get the cash to pay off the remaining 80% of the PP.
Easy way to turn 100,000 shares into a million shares.

JMHO, anyone else see it this way?