My email:
Dr. Alex Cavasin,
Your company Alcar Chemicals Group at one time was diligent in at least responding to emails and/or voice mail messages. Now you do neither nor do you have the courtesy to even indicate your further existence through a press release. Recently, a person who shall remain anonymous, was informed that a PR would be forthcoming on Tuesday, May 8th, 2007. They informed many that this information was offered by your "singnificant other" Carmel. Do I have to remind you of the implications of revealing false information to manipulate the stock market?
Furthermore, in your last PR, Siam (and you) indicated that the Material Definative Agreement (MDA) would close, "on or before May 7th." By law and according to SEC compliance rules (Items 2.01 and 9.01 of Form 8-K) regarding mergers and acquisitions of shell companies:
"Items 2.01 and 9.01 of Form 8-K currently apply to shell transactions in which the public shell acquires a private operating company. Amended Item 2.01 requires a shell company to make a detailed filing on Form 8-K within four business days after completing such an acquisition."
It also amends:
"Item 9.01 of Form 8-K currently requires public companies that complete significant acquisitions to file audited financial statements of the acquired company not later than 75 days after completion of the acquisition. Amended Item 9.01 closes this window for shell companies by requiring that audited financial statements of the operating company and pro forma financial information be included in a single Form 8-K filed within four business days after completion of the transaction."
If the MDA closed, you have missed an extremely important deadline. It is entirely possible, however, that Siam backed out of the deal or that an "internal" extension was agreed upon. However, leaving any investor - long-term, short-term, day-trader or otherwise - oblivious to this material fact is not only unethical, but down right rude. Regardless of your feelings towards investors in general and their petty day to day concerns over PPS, any material modification to your last PR is non-compliant with SEC rules! So, that leaves questionable cause as to the motive of this silence.
Perhaps it is the new management at Select American Transfer that has yet to accommodate the management at American Stock Transfer and Trust in New York. Perhaps, there are other issues beyond your control that would leave your image less than stellar and hence the silence. Perhaps, you/Siam are under a "gag" order by some court not to disclose. Whatever the case, the silence is deafening and is no way to "reward your long term investors." True longs also have a breaking point.
Therefore, as I did with the "supposed" naked short situation, I am filing complaints with the SEC, NASD, FBI and the Department of Homeland Security (maybe even Interpol) with regard to these developments. I am also going to encourage EVERYBODY that I know who is and WAS invested in this company to do the same. If you are still on the up and up, I hope this does not have an adverse affect on our investment or hinder execution of "the plan," but at least we may get more than you are currently giving us which is NOTHING at the moment. So tell your Siamese friends, we're coming with a vengence.
Not only do you NOT answer emails addressed to your Investor Relations department, you do not answer the phone, return voice messages or calls/messages to your personal cell phone number 514-402-3665! I have ONCE heard an answer to this number by some lady who couldn't speak English. All other times the call is redirected to voice mail that receives no messages and disconnects.
A company's IR department is an investor's "life line" and you and/or Siam has severed that life line without notification or any forewarning. That is cause for deep concern. Enough is enough.
We are very disappointed, to say the least!!!
You know who I am, so I will not close this letter by giving you the courtesy of a proper salutation.
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