RE: Lawsuit/Financials - SRT
posted on
Jun 09, 2006 09:08AM
I went looking for a post of mine from way back when the suit first became known. Didn`t find it, but the essence was that, regarding the failure to deliver issue, the worst case scenario wasn`t all that big a deal. That old post had all the known numbers spelled out; the EDIG income and the Maycom income to total $795K. Worst case: EDIG coughs $795K plus legal expenses. Could be a whopping $1.2M when all is said and done, or about 10M shares/2.5% of added float. 2.5% added float! Yup, that`ll kill us! LOL
But then we could go after Maycom and perhaps get all of it back! And that case would appear to be quite straight forward - paid but didn`t deliver. Damages would be equally clear - everything we expended in the contest with DigeCor as pertained to the acknowledged likely only aspect having any merit.
A thoughtful look seems to reveal ``much ado about nothing``.
Near term concern? Perhaps. Long term? Not that big a deal.
These things I`m pretty sure of.
SGE