During the fiscal year ended January 31, 2003, Mr. Alvin A. Snaper resigned as a director and Vice President- Development of the Company, regarding a dispute concerning the lack of reserach progress at the Company's Las Vegas, Nevada facilities by Neo-Dyne Research Inc., a company owned by Mr. Snaper, and the Company terminated the lease on his office building from which the Company was leasing space at $2,000 per month, on a month-to-month basis.
Mr. Wolf Meyerfeld resigned as a director of the Company effective March 3, 2003. Mr. Meyerfeld also served as the President of the Company from November 4, 2002 until December 12, 2002.
There are two sides to each and every story. I've spoken with Wolf often enough to say I feel he is one of the most honest individuals I've ever conversed with. If he has a problem with present management, I have no idea what it might be, but where there's smoke, there's usually fire.