Compiled by Frederick Mann
Someone who wishes to remain anonymous wrote me:
I just finished reading the latest interview with Harry Plott (part III) and wanted to respond.
I was a principal in one of the small companies that had to be abandoned in mid '96. We were not able to survive and eventually suffered some signifcant personal losses.
From my viewpoint, I believe Harry is an honest, hard-working person and made certain decisions with the best intentions. As you state in your article, he could have disappeared with the assets a long time ago.
I trust Harry and enjoyed working with him. I would do so again if the opportunity presented itself.
I know that Harry cares about how people feel. If you are in contact with him, please let him know that I have no ill feelings and wish him the best.
Update April 30th 1999
To all Registered Bondholders of Mali-Suisse Mining International, Ltd. Debenture Bonds
It is imperative that I make the current situation known to you. You are the only ones I can turn to at this time. I know that many of you may think that I have no right to ask you to do anything and maybe so. But I am going to ask you anyway. Not because I want to, but because I don't see any other options right now. It's up to you to take this seriously or not. You may have more ability to influence a positive outcome to our situation then you think you do.
Here's the situation. Everyone knows about the Mali-Suisse gold in the ground. The final stages of getting a proven reserve report are being completed right now. Within a few days to maybe two weeks, we are going to get the final bill. We need about $25,000.00 (the longer it takes, the more overhead costs we incur) to finish paying for the completed work and documents and current bills. This is just an update, not a request for money.
Our real problem is with the American Millennium Corp., Inc. stock (OTCBB AMCI). This has been the funding tool for almost everything else. We have been paying most of the Mali, Eco-Max, and AMCI bills with this stock (all other surviving companies are on hold). We only sell when we absolutely have to and only enough to keep things going. We have done everything we can to keep the price up. We are just now closing on orders that were started anywhere from a few months ago to as long as two years ago. Presenting new technology to major companies is a difficult task and we are just starting to move past the proof of concept stage to real orders.
Right now, AMCI has working systems in the field for over a dozen companies, many of them major players within their industry. We have been trying to survive under mutual non-disclosure non-compete requirements. This makes it impossible to tell the public who we are working with. I can't even risk telling you now. Disclosure could involve insider information and probably violate the terms of the above agreements.
We just posted the Cabot Oil and Gas press release. Because of the problems with the SEC (they're watching everything AMCI does), we can't make any projections. We can only say what has been finalized. Most other companies would say that they expect a lot of business from this customer or that customer, but not us. We stay mute.
The "Safe Harbor" disclosure at the bottom of the press release is a joke. Look at the press releases for the last year. We don't dare post any projections or forward looking statements. We are stuck. Without being able to use typical methods (projections, etc.) to really promote the company, we can't keep the stock price up or attract serious new buying.
Cabot Oil and Gas is a major player in the oil and gas business. Do you really think this is all the business we are going to get from them? Over the next few weeks or so, we will be putting out a series of press releases from companies as big or bigger than this one. More companies are buying larger numbers of site installations. At some point, we will be putting out news of an agreement with one of the largest companies in the world. We have major projects going in South America and Costa Rica. These projects have been going forward month by month. But we can't even mentions who they are.
It has been a nightmare trying to get these NYSE and NASDAQ companies to allow little AMCI to release the news of our business with them. Why? We are not substantial!! These major companies are not sure we can even "go the distance" from a financial standpoint. Why should they? We live from hand to mouth and they know it. You might think, "Why doesn't one of these big companies invest some money in AMCI?" For the same reason they don't let us use their names in public. They just don't do it!
We have survived for almost two years under these conditions but we are going to continue to lose assets. Some of the other still remaining companies, not mentioned here, will also die the slow death of financial starvation. At $.30 share, I would have to sell at least 5% of our AMCI holdings just to pay next weeks bills and pay the Mali-Suisse overhead. I don't want to keep bleeding our interests to survive. I will if I have to, but I don't like it and neither should you.
Another thing you should understand. The more stock we sell and the more stock the company has to issue to pay its consultants, attorney, CPA, etc., the less control we have. It won't take much more of this for us to lose control of the company. It might not be the end of the world, but it certainly is not in our best interest, not with the baggage the trust has brought to the table.
Right now this whole operation depends on the stock price of AMCI. Yes everything, because it's the only liquidity we have left. Our house is in foreclosure. Everyone working for our projects has borrowed all they can. We have nothing left to sell or borrow against.
Assuming you want to do something about this, what can you do? That's your challenge and opportunity. Even a 20-30 cent increase in the stock price makes a major difference in how much has to be sold. The difference is exponential not linear. The higher the price, the less volume needs to be sold. The less volume sold means less downward effect on the price. If you'd like me to explain this sometime, I will.
There are several things you can do about this. You can even be proactive without using any money. The most obvious thing, of course, is to go buy the stock. Either the continued release of more contract and order information will begin to move the price up or it won't. Either way, I will have to sell stock. With what we have to sell to survive, the only way for the price to go up is sustained buying. A thousand people buying a few hundred or a few thousand shares will have a more lasting impact than a few traders buying the same amount for a quick turn around.
At these prices, the risk is relatively small. In fact, knowing what I know, buying at these prices may actually be a rare opportunity that might not be available much longer. Of course, I could be wrong and the whole thing could go south. You buying stock might prevent this potential failure, thereby saving all of us, including me, from financial and personal embarrassment and ruin. Besides, I'd rather see you get the benefit of the stock then strangers.
If you want to buy stock and don't have or want a brokerage account, there are two ways you can still buy the stock. There are a number of your fellow bondholders that I know have accounts and can be trusted to do this for you. A good place to contact them is the Ages forum on the internet at http://www.delphi.com. The forum is by invitation only to protect your privacy, see below for instructions.
If you want to, those of you who will trust me to buy for you, I have access to several accounts. You can send the money payable only to Golden Eagles Services, mail to First Mercantile, Inc. 2247 N Citrus Blvd. #314, Leesburg Florida 34748. Do not put GES's name in the address. I will buy the stock immediately upon receipt and send you an accounting.
If you can't afford to buy the stock, then tell someone else about us. Tell them to look us up on the Yahoo quote pages and our website at http://www.amc-wireless.com. There is even a buy and hold recommendation by a reputable brokerage firm, Everen Securities. You can find this online at http://www2.nordby.com. Click on Brokerage Reports at the top of the page, from there type in AMCI and submit. This may be enough to convince them to buy it.
There are also tens of thousands of stockbrokers out there. Only a few hundred, if that, have ever heard of AMCI. Call a local broker and tell them you may want to open an account and ask them about AMCI. Tell them about the Everen recommendation. Even if you never do it, you just put the bug in their ear. Getting their attention to even look at the stock is a plus. The more people hearing about AMCI the better. Will this work? I don't know but it certainly can't hurt.
In closing, I'll tell you this. When I started this whole thing, I did it because I wanted to make a difference. I wanted to give talented people a chance to produce new technology and encourage new ways of being productive. We have spent millions of dollars in the development stages of many new businesses. As the successful technologies are finally reaching fruition, we've run out of money. Without money to continue, everything is at risk.
I wanted to make a difference in your lives too. But it seems the only difference I've made is negative. For that, I'm truly sorry. It appears as if I have been a total failure in everything that I wanted to accomplish. Things seem to be so hard right now that we must be close to reaching our goals. AMCI is the key. If you work on this and nothing comes of it, I'll have to find another way, but let's at least try! Besides, it might be fun.
I'm only able to get this message to about 425 of you, but most of you know many more and can help get the word out. Also, most of you are not on the Ages Delphi forum. This forum will give you additional updates, information, conversations between your fellow bondholders, and it will give you the ability to communicate with others as a group or by private messages.
The forum is by invitation only to protect your privacy. If you would like to join the forum, email a request to [this person has requested his details to be removed] with your name, email address, and AGES membership # (the code that WNH/AGES gave you when you first joined). Click here for the Ages forum. It's easy to get on. It just takes a few minutes to complete the free registration form for Delphi. You must sign up using the email address you gave for the invitation in order to access the Ages forum. So use the email address you will be registering with when you make your request.
We will never know how close we are to success or failure, until we get there.
Sincerely Yours,
Harry Plott
Disclaimer - Copyright - Contact
Online: buildfreedom.org - terrorcrat.com - mind-trek.com