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AWLD independent director vote results? (Community)
AWLD independent director vote results? // CommunityeepJul 12, 2002, 9:45pm
What happened? It supposedly took place on 7/8. AWCers have been noticeably absent from AW so I'm wondering if they're just all on vacation or has AW been sold to X3D (assuming the vote got rid of the 2 opposing independent directors and X3D reproposed the "merger"-buyout that quick)?
83058Jul 12, 2002, 9:50pm
eepJul 12, 2002, 10:02pm
Increase your line length and it won't be a problem.
[View Quote] > You'll have to cut and paste that last bit...long URL. > [View Quote] eepJul 12, 2002, 10:04pm
Wow, so long to Rick and JP!
"Messrs. McCormick and Noll immediately resigned as officers and directors and terminated their employment agreements effective immediately;" Cool! Now maybe AW will actually start GOING somewhere! [View Quote] > http://www.sec.gov/Archives/edgar/data/1089531/000111650202000961/activeworld-8k.txt > [View Quote] eepJul 12, 2002, 10:16pm
That doesn't say the results of the vote though. Seems like it didn't go through as Rick and JP hoped, so they just bailed. <chuckle>
[View Quote] > http://www.sec.gov/Archives/edgar/data/1089531/000111650202000961/activeworl > d-8k.txt > [View Quote] strike rapierJul 12, 2002, 10:36pm
Oh damn.. this is scaring the bejesuz out of me..
" Prior to the resignations of McCormick and Noll, the three independent directors strongly believed Activeworlds, Inc. and its business model were not in the best interests of the Company's stockholders as evidenced by the Company's continuing losses. The Company is seeking to acquire an operating business in a reverse merger transaction which has the potential to create stockholder value." Stockholders = Want Money = Resources taken away from AW = Prices may increase. I see this as a BIG problem, I actually started to like Rick. anduinJul 12, 2002, 10:37pm
In a galaxy far far away, known as community, an identify claiming to
be known as "eep" <eepNOSPAM at tnlc.com> scribed the following: >Wow, so long to Rick and JP! > >"Messrs. McCormick and Noll immediately resigned as officers and directors and terminated their employment agreements effective immediately;" > >Cool! Now maybe AW will actually start GOING somewhere! Or this means the end of AW? We'll see what happens... ,,,,, (o o) /--------------ooO--(_)--Ooo--------------\ | Anduin (317281) | | o The Gorean Scribe | | o http://www.anduin-lothario.com | | o It wasn't me, it was the one I'm in! | \--------------ooO-------Ooo--------------/ eepJul 12, 2002, 10:38pm
I have to wonder if Rick and JP still don't own AW because of this statement: "McCormick and Noll shall acquire the entire business of the Company but not its existing litigation against Juno.com and its remaining cash balances of approximately $630,000;" which implies they're still in control of AW? So confusing!
[View Quote] > Oh damn.. this is scaring the bejesuz out of me.. > > " Prior to the resignations of McCormick and Noll, the three > independent > directors strongly believed Activeworlds, Inc. and its business model were > not > in the best interests of the Company's stockholders as evidenced by the > Company's continuing losses. The Company is seeking to acquire an operating > business in a reverse merger transaction which has the potential to create > stockholder value." > > Stockholders = Want Money = Resources taken away from AW = Prices may > increase. > > I see this as a BIG problem, I actually started to like Rick. strike rapierJul 12, 2002, 10:39pm
Yes, I was confused by that bit 2... time for awc's new management to make a
statement on the website and / or Newsgroups.... - Me nomad 1Jul 12, 2002, 10:58pm
Could someone with some business knowledge please fill us all in in on what
this document is saying. I, for one, don't understand business bafflegab. After reading it, it looks to me like either 1) Rick and JP are still with AWC, 2) Rick and JP are no longer with AWC, or 3) Rick and JP are no longer with AWC but might be be with AWC again. Speaking in general, it's no wonder companies can "cook" the books to the tune of billions of $ these days.....few people can figure out what the hell is going on with them. NoMad 1 [View Quote] strike rapierJul 12, 2002, 11:01pm
zeo toxionJul 12, 2002, 11:07pm
Thanks for the tip, captain obvious
-- -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=- A message from Zeo Toxion -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=- [View Quote] nornny11Jul 12, 2002, 11:13pm
Well, which way?
What is this, 5 down (*counts with fingers* Luc, Roland, Hammy, Rick, JP*) If Flagg and Mountain Myst goes, it's a crowd. I don't understand the full story at all, I hope to one day though. It's like widdling the staff away. Why is everyone leaving, business-wise? I think there's a lot of questions the SEC fails to answer. And can anyone tell me who Judson and the other guy is? Judson sounds familiar, but do we have any information or history on both of them? Maybe then we can find the answer to where AW's going. -- From the Newbie's Guide to the AW NG: "Nornny11 - The original wishy-washy man, this one can actually insult you and compliment you in the same breath, and in the end say absolutely nothing! What a talent!" [View Quote] eepJul 12, 2002, 11:16pm
http://activeworlds.com/info/directors.asp but good luck getting in touch with them.
[View Quote] > Well, which way? > > What is this, 5 down (*counts with fingers* Luc, Roland, Hammy, Rick, JP*) > If Flagg and Mountain Myst goes, it's a crowd. > > I don't understand the full story at all, I hope to one day though. It's > like widdling the staff away. Why is everyone leaving, business-wise? I > think there's a lot of questions the SEC fails to answer. And can anyone > tell me who Judson and the other guy is? Judson sounds familiar, but do we > have any information or history on both of them? Maybe then we can find the > answer to where AW's going. > [View Quote] eepJul 12, 2002, 11:25pm
Bruce Judson (get-rich-quick schemer--smells like spam): http://www.growyourprofits.com
Sean Deson (board of director slut): http://www.iowave.com/ionews/Board%20Changes_032202.htm ("Sean Deson is currently the Managing Director of Deson & Co. and the Managing Partner of Deson Ventures. Mr. Deson is involved in private equity investing through both entities. Mr. Deson previously was Senior Vice President of Donaldson, Lufkin & Jenrette’s Technology Investment Banking. In addition, Mr. Deson serves on the Board of Directors of FASTXchange, LiquidXS, Systemsfusion, Activeworlds, Technology Flavors and Fragrances, and industry2industry.") Dunno about Alex Adelson. [View Quote] > think there's a lot of questions the SEC fails to answer. And can anyone > tell me who Judson and the other guy is? Judson sounds familiar, but do we > have any information or history on both of them? Maybe then we can find the > answer to where AW's going. goober kingJul 12, 2002, 11:47pm
http://old.edgarpro.com/edgar_conv_html/2002/07/12/0001116502-02-000961.html
That's the long version. Still trying to figure out what it all means. For instance, it says that Rick and JP are still CEO/CFO of Activeworlds, Inc. (a Nevada company), which is a subsidiary of ActiveWorlds Corp. (a Delaware company). How does that make sense?! [View Quote] > http://www.sec.gov/Archives/edgar/data/1089531/000111650202000961/activeworl > d-8k.txt > > [View Quote] -- Goober King Ye gods, it's too much! rar1 at acsu.buffalo.edu goober kingJul 13, 2002, 12:43am
http://awnews.com/html/modules.php?op=modload&name=News&file=article&sid=301
Ok, think I managed to decipher it, or at least get all the important parts into perspective. Too bad there's never a business lawyer around when you need one! :P [View Quote] > http://old.edgarpro.com/edgar_conv_html/2002/07/12/0001116502-02-000961.html > > > That's the long version. Still trying to figure out what it all means. > For instance, it says that Rick and JP are still CEO/CFO of > Activeworlds, Inc. (a Nevada company), which is a subsidiary of > ActiveWorlds Corp. (a Delaware company). How does that make sense?! > [View Quote] -- Goober King I guess they *are* useful for something... rar1 at acsu.buffalo.edu zeo toxionJul 13, 2002, 1:21am
your so bad carl...
-- -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=- A message from Zeo Toxion -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=- [View Quote] eepJul 13, 2002, 1:40am
I think Circle of Fire (COF) was a Nevada company before Vanguard Enterprises bought them and made it Activeworlds.com, Inc. (then just Activeworlds Corporation), a Delaware company. Now it looks like there is the Rick/JP-owned Activeworlds, Inc. (AWI, renamed from COF?) and the other guys own Activeworlds Corporation (which no longer has anything to do with Active Worlds). My bet is AWC will merge with X3D and probably just use X3D as the name and drop the defunct AWC. AWI will revert to pre-public-company status.
So much for Rick and JP's attempt at managing a business. ;) Perhaps they'll get a clue and focus on entertainment/gaming this time and do it right like they should've done in the first place... [View Quote] > http://old.edgarpro.com/edgar_conv_html/2002/07/12/0001116502-02-000961.html > > That's the long version. Still trying to figure out what it all means. > For instance, it says that Rick and JP are still CEO/CFO of > Activeworlds, Inc. (a Nevada company), which is a subsidiary of > ActiveWorlds Corp. (a Delaware company). How does that make sense?! > [View Quote] eepJul 13, 2002, 2:35am
Could be either way. After rereading what I wrote, I should have said AWI (Rick and JP's company), not AWC (Bruce et al), will probably merge with X3D now that the opposing independent directors (and all of them actually) are out of the way.
[View Quote] > So does Active Worlds go with AWI or with X3d? > [View Quote] daphneJul 13, 2002, 2:43am
First, let me comment on the obvious:::
Welcome back to the newsgroup, Eep!!! Someone must like you.. :o) Second, it's my opinion that the said document is some legal mumbo-jumbo to secure or "reposition" the outstanding shares of stock, among other things, and possibly to distance "the company" from the Juno.com lawsuit so "the company" can move forward more easily... Rick and JP haven't gone anywhere... They are still right there at the helm so all your nay-sayers and doom & gloom advocates can put away your party hats till the next rumor comes along... :o) I don't work for the company and I'm certainly not a lawyer but it's my opinion that there isn't much in that document that seems threatening to life as we know it in Activeworlds.. :o) Ok.. Back to building or gossiping, everyone!! *hugs for those that want them* Daphne [View Quote] kelleeJul 13, 2002, 6:08am
[View Quote]
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No....you just HOPE that this is a new beginning....but i dont think we are that lucky. Trouble is.....no one is ever gunna run just AW ( without all the other crapola that they are trying to do) just for us and pay a few million dollars for the privlege, and not wanna make money off it. drubiJul 13, 2002, 9:56am
As a remark to all posts above; I know that URL is *a lot* to read, but
reading it *all* before making comments might help. Read a page, go have a coffee break, then read an other (that helped for me to at least understand better) I'm not a business-laywer where some were looking for, but to my understanding yes, J.P. and Noll quit as of immediatly and sold their shares back to the company for which they got paid. With this money and probably some savings, they acuired to buy AW, on which "the company" (now without J.P. and Noll) agreed. After doing so, they've appointed two people to manage *their* new company, two people who were already involved. But, the most tricky part is in the "liability"; they've quit and bought AW as two new, independent people, including all material, leases, loans, etc. etc. but *without* the old liability which could be held against any person (since the J.P and Noll who left are *not* the same J.P. and Noll who bought AW, or at least not their involvement) This is all moving around on paper, appearantly the meaning of "they quit the company" moreover means that they never even left the table they were sitting at while negociating. Or more clear, they didn't go anywhere at all, but *did* get rid of the two directors they wanted to get rid of plus that they can not be hold responsible for any misstakes or claims the "previous" J.P. and Noll involved in the company made. As little extra, they've bought themselves an other month of time for the reasonable amount of $15.000 While everybody is talking about how the lead and management of AW is failing, personally I think it's a little demonstration of tricky businessmen which played out some cards they still had up their sleeves. In my opinion, like Daphne said, for now nothing changes visibly to AW users. Just wait and see which cards they have left to play in one month from now, hoping it's a full-house and things start moving forward and for the better from here :) |