Replies to post #32117 on Thresher Industries, Inc. (THRR)

[kennypooh]

How ironic! Do you know if this is the same attorney that handled the Carden/RAC case for Tom? The only DD people needed to do here was to read the court documents from the Carden/RAC case against
Flessner in 2007. Those were 'real' legal documents and 'foretold' what result to expect here IMO. Makes you wonder why all the many stock promoters and tout sheets didn't bother to read them? Could it have been the free shares they got from Tom????

Item 22.
On or about November 12, 2006 Flessner, acting under the authority a president of Thresher, represented to Carden that Thresher had on hand significant cash reserves of approximately $10 million more, further represented that Thresher had ready access to credit
sources such that there was no danger of any capital shortfall within the company. Flessner made these oral representations in his capacities as President and CFO of Thresher.

Item 23
On or about December 12, 2006 , Flessner , acting under authority as President of Thresher, while located at Threshers headquarters in Hanford , CA, specifically represented that a local investor, Fred whatever ( I changed the name ) , was to invest $20 million into Thresher. Flessner represented that this invest was a “sure thing”, “Guaranteed deal” and assured Carden that this was an incoming investment for Thresher. This conversation took place over the phone and via email correspondence.

The juicy part
Item 24
In reality , Flessner’s representations were untrue at the time they were made, Flessner knew that these representations were false at the time he made them. Flessner made the representations under the color of his office as President and CEO of Thresher. In actual fact, Thresher had virtually zero cash reserves and no access to capital, and this lack of capitol caused Threshers stock to become worthless during Jan 2007…

Item25
All the aforementioned representations were untrue, and were specifically made to and did, induce RAC and Carden personally, to enter into the purchase contract and the employment agreement respectively, upon reliance of these misrepresentations.