DTC to Pay

And what I was trying
to tell you was I always told him he should have a hedge
fund in order to manage his own stuff, and Legends was
that hedge fund, it became the hedge fund.



We bought a piece of property in Austin, Texas,
and were going to build a massive golf teaching center.................
I raised money, we bought the property, about
six months down the line somebody offered us what we
thought was an exorbitant price for the property, and we
sold it.



We had, you know -- he would always operate in
way where he would give me either a check, which he
did in the beginning, or would DTC me, and at that point
he had 26 million shares, I believe it was, if I
remember correctly, of e-MedSoft, and at one point he
DTC'd me 250,000 shares -- no, I think he started with
50,000 free trading and 250 restricted. And this is
from memory, but it's ballpark.

Just for the record, what are you specifically
referring to when you say "DTC"?
It's a way to transfer stock from one account
to another. And the stock would come from, you know,
his various entities.




Well, I brought to the table, in the case of
e-MedSoft, which is the most significant, we already
talked about Red Coat -- I brought them to the table,
and then he took over. And they bought over 15 million
shares of E-MedSoft.

Who's "they"?

.............. two
principals of Red Coat. They were introduced to Mitch
Stein and e-MedSoft by me. I brought them to the table,
and then he took over completely. He actually spent
nearly a month in their offices during a period of time
in which e-MedSoft went from under a dollar to over four
dollars.




You said that e-Med stock was his currency at
the time? What did you mean by that?
That's how he paid people. He paid others with
e-Med stock as well, because he had so many shares, he
could never have sold them all, although he did manage
to sell what appears to be 20 million shares or so.


And so whatever you understood that whatever
work you did for him on this consulting agreement, you
were getting paid in e-Med shares?
That wasn't the understanding. That's what
happened.




It may have
been someone -- but of course, Mitchell forbid me to
meet with more than one board member at a time. He left
that in a voice message. Only meet with one at a time,
don't put issues on the table, then I'll have to correct
it and get rid of them. I have that voice message.
You'll enjoy that. (In reference to Recom)

No comments:

Post a Comment