Replies to post #4779 on Freedom Environmental Services, Inc.(fka FRDM)

[Loustock]

I read Morrison's report again. I think you might be right. It sure sounded like it sold for 2 million and the parties are waiting on closing. I hope I'm wrong and an official sale price is announced.

[Cb04]

No other bids than the stalking horse bid. The acting operating officer is taking a sweetheart deal to run the company for the new owners. It doesn't appear that any advertising was done or other bids solicited. The acting operating officer may have been responsible for soliciting bids and may not have done so. It may meet the letter of the law but ethics and responsible shareholder protection are nowhere to be found. Plus, the receivership organization appears to get the lions share of the price with the shareholders getting next to zero. and this from a company that is operating and profitable. This whole thing stinks, where is the SEC when you need them? These people need to be investigated for possible collusion. Does the judge in this case have a working relationship with the Morrison group? How many times have they done this before? Anyone with Lexus-Nexis want to do some research?