News Focus
News Focus
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tipsd9video

04/26/10 3:09 PM

#13910 RE: Infromthecold #13909

I only own 5340 shares but count me in. I can be reached at tipsd9video@msn.com.
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jocotepec

04/26/10 3:11 PM

#13911 RE: Infromthecold #13909

Count me in. I only have 47,750 shares but every little bit helps.
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okvestor

04/26/10 3:41 PM

#13912 RE: Infromthecold #13909

15% of the oustanding stock would be about 10,500,000 shares. That's going to be a fairly big hurdle to get over without the support of one or more of the major stockholders -- but it may be interesting to see. I have 50,000+ shares and would be glad to assist.

Note that Section 6 provides an exception to the stockholder inspection rule for companies that have filed their financials currently with the SEC as required. From my reading it appears to me that if PWC completes the audit and the 10-K is filed, this stockholder demand may be moot. But, it appears that the window is open now -- and a little stockholder organization might prompt more attention to and better communication with us.
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market-liquidity

04/26/10 3:54 PM

#13915 RE: Infromthecold #13909

Regarding stockholder audit--

Seems like a decent idea on the surface- anything to make these dark alley scuzzballs show their hand in the light of day sounds good- but may want to keep in mind these thoughts:

states shareholder(s) must bear the cost of the audit, whatever those are, collecting that from a diverse group of shareholders around the globe would prove interesting

the books are likely a total mess now, that's why new auditors are re-auditing the old auditors and we're still totally in the dark

sounds like LS estate could nearly handle the request on their own based on their shares owned (if they still have their full holdings), if they haven't done this already. If any other shareholder has access to LS estate contacts, sounds like that may be the route to go, if they don't already have some forensic accountants crawling on this in private anyway and not sharing the info with the chump changers like the rest of us who are stuck in the stock.

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seeksup

04/26/10 11:58 PM

#13924 RE: Infromthecold #13909

Might be a good idea, but 1) I think it would only slow down their current efforts to resolve the ongoing issues, and

2) The important reason I see to move forward with the Investor Audit idea would be to find out what happened with the $15 million... but that's already being vetted out.

Just my opinion-