through attorney A. Clifton Hodges.
You spoke to the fact that Mr. Hodges
testified under oath in the court proceedings.
On this point we must
was speaking on behalf of his
client(s) and as such was not under oath.
are allowed to advocate for their client based on facts they believe to be true.
was in fact arguing a side
of the case, and as such is not “testifying” as you have misstated in your letter. “The case
brought by Mr. Hodges
was dismissed by the Court and is now on appeal.” Mr. Hodges
is pursuing the matter
on appeal at this time.
The company has no obligation nor would it be a wise use of resources to attempt to get
involved in this matter.
In fact spending valuable company resources and time on something that has never been
validated by our own extensive investigation would, in the opinion of the board, be irresponsible.
This company has
always had an open line of communication with Mr. Hodges
The company has requested on multiple occasions from
any such tangible evidence, including but not limited to any pertinent documentation which.
known only to Mr. Hodges
, the company has not received any documented evidence of any trust that is
The board at this time finds that the request to pursue action against Mr. Hodges
to be misguided and unwise.
is successful in the pursuit of this matter based on the information he
possesses and wishes to keep
If the company can assist in that endeavour it stands ready to assist Mr. Hodges
As earlier stated by CMKM
, after a complete investigation into the matters being litigated by Mr. Hodges
Many have asked about my position on the matters that Al Hodges
is working on.
I continue to stand by my previous
statements of June 25, 2010.
I personally believe that Mr. Hodges
is looking out for the best interests of the
shareholders and that he
believes, without any doubt, in the information that he
has shared with you.
I have spoken
with Mr. Hodges
in the last two weeks and although he
still cannot share details with me or the Company, I am of the
personal opinion that he
is still 100% confident in his
facts and has not wavered in those beliefs.
Bivens Suit - I will only make a brief comment on the Al Hodges litigation.
The company has made its
position very clear on several occasions.
I reiterated the company's position in my update this past May.
reread my comments if there is any misunderstanding of my position and that of the company.
There is an open line of
communication between Mr. Hodges'
office, your company and my office.
If any help or assistance is needed by Mr.
from me or the company, Mr. Hodges knows we stand ready to do whatever is needed.
Having said that, a
lengthy in-depth investigation by myself and your company has been ongoing into related matters since March of 2007.
Your company management has met with Mr. Hodges
We have received the same information most of you have
received about this matter.
The company's position has not changed.
has been relentless in his
the monies identified in his
is firm in his
belief that he
will eventually be able to obtain the funds he
who are in daily anticipation of the funds being sought by Mr. Hodges
efforts come to fruition, I will be as
happy as any shareholder alive.