Replies to post #78587 on e.Digital Corporation (fka EDIG)

[mrkool]

Well...it appears to be a way for the Comelli law firm to syphoon money out of edig - what does Fred do anyway?

That would be his job - to manage outside law firms...what does Fred do for his money anyway assuming it is not a conflict of interest? This is a small company - not a large one...

The larger issues is why does this management group find ways to take what precious little money this company generates when the stock price is at 3 cents?

What about the shareholders and getting value out of management for the money they spent?

Where exactly is the value with Fred? 180K to do what - sell stuff? develop the company?

Why isn't the law firm's exact duties spelled out - what does it manage?

Also - why doesn't the law firm do the work for free? Donate it? Look at the business and what is going on...the last thing it needs is more overhead....did this BOD member get money out of the company already when the share price was high - how much does he need...they could use the money for development and sales...5 K a month will buy edig a salesman - a real one plus commissions....

Just my humble opinion - that's all....

[Cassandra]

Why would e.Digial pay Allen Cocumelli, the Chairman of the Board, to advise the company regarding managing outside legal work instead of long-time corporate counsel Curt Barwick? How much advice does Fred Falk need regarding such work?

I contacted Barwick's office a few minutes ago and asked if they are still corporate counsel for e.Digital Corporation and was told they are.

Curt C. Barwick, Esq.
McConnell, Dunning & Barwick LLP
15 Enterprise, Suite 360
Aliso Viejo, California 92656
[phone]
Counsel for the Company

IMO, the $5,000/mo retainer paid to Cocumelli to advise Fred Falk regarding managing outside legal work is unwarranted and excessive and has the appearance of a thinly-veiled quid pro quo arrangement between Falk and Cocumelli at the expense of the shareholders to whom both have fiduciary duties.

It should be disclosed as a conflict of interest and he should resign from at least the compensation committee, if not the BOD itself.

Shamefully, it appears there is absolutely no officer or director at EDIG who is willing to act in the best interest of shareholders.