I know I should have posted some of these things yesterday..but things are getting more intriguing with the MDMI and La Guardia situation....all this cloak and dagger stuff is hysterical....meanwhile our shares turn to wallpaper.
Here's a story about Mr. "Ranch" La Guardia and MDMI ...
From La Guardia GFS:
La Guardia GFS, a Mexican corporation, was introduced to MDMI by Jimmy Carter ("Mr. Ranch", we question why names are being hidden?) of Ft. Worth, Texas. Chip Parrish, who is a senior consultant with La Guardia GFS has know Jimmy Carter for a number of years, and the two of them have collaborated on a number of projects. Mr. Parrish lived on Mr. Carter's ranch for approximately 3 months during the summer of 1993, while the two of them were working on a number of public and private equity deals. Mr. Parrish moved to California during the fall of 1993, where he managed a multi-million dollar portfolio for a wealthy individual in the San Francisco area. In 1994, Mr. Parrish was licensed by the NASD, and became a broker for private equity deals concerning capital equipment leasing, environmental remediation, video conferencing, offshore portfolio management and geothermal power generation. Mr. Parrish launched his own consulting company, Kilgore Mayfair, in 1997. Kilgore Mayfair contracts with a number of companies, both in the US and abroad, with primary interest in industrial construction and leasing, offshore portfolio management and promotion/investor relations. The later of which is his relationship to La Guardia GFS.
Mr. Carter and Dana Verrill are business associates from Verrill's Spectrum Technologies days. Mr. Parrish proposed that La Guardia work with MDMI based on this relationship. This personal relationship allowed La Guardia to work with MDMI on a very relaxed basis, with the understanding that if the DTC sheets were a little late or it would take an extra 60 days to get a stock certificate, that was ok, Carter would vouch for Verrill. Unfortunately, the DTC NEVER arrived nor the stock certificate and ultimately the information ceased completely. La Guardia was made aware of MDMI's supposed displeasure with La Guardia when Mr. Parrish began to pressure Mr. Carter for the share certificates that MDMI had LEGALLY CONTRACTED to pay to La Guardia. MDMI never contacted La Guardia directly to discuss any problems or displeasure in our work, nor made financial information, DTC sheets, accountants nor clients available to La Guardia, despite constant request. Mr. Parrish has spoken with MDMI's legal counsel on several occasions, with the outcome being, the Form 10 is in process...Obviously La Guardia is not an "insider" in MDMI, and therefor cannot obtain any information that would not be made available to the public. We are still unaware of any financial information that has EVER been released by MDMI, other than the bankruptcy proceedings 3 years ago. I might also note that MDMI contractually agreed to provide such information to La Guardia (yet another point of contractual breach by MDMI). At one point in time, MDMI would not even allow their Transfer Agent to release any information to La Guardia, and they have NEVER provided any DTC sheets, nor shareholder list, the later of which they are required to provide by law. Futhermore, MDMI insider?s registered over 400k shares of stock, previously restricted under Rule 144, without informing La Guardia. We obviously were made aware of this via Edgar, and when we questioned Mr. Carter and Mr. Verrill, we were told that the stock was sold to somehow help MDMI financially, thought the terms of this arrangement remain undisclosed.
In so far as incorrect press releases are concerned, La Guardia did assist MDMI in the drafting of many press releases. All of these press releases were issued by MDMI via, Business Wire. La Guardia has never, and will never, directly release any press releases for any of our clients. It is the client's responsibility to police the information being released. If the information in any of MDMI's press releases was incorrect, it is solely the responsibility of the MDMI. They have the final word, and should review EVERYTHING that is released. If MDMI does not care enough about the information that they release to the public to review it prior to sending it to the wire service, there is absolutely nothing that the PR firm can do, other than apologize to the share holders, and work with the company to resolve the discrepancies. When the company is unwilling to do this, nor take responsibility for the information THEY released, the PR company can do nothing else. MDMI runs MDMI, the PR company does not. Once again, "Don't shoot the messenger"!
MDMI hides from responsibility consistently. They cannot even answer a simple question as to whether or not they are profitable. They have been promising financials for over 2 years now, and the public has seen NOTHING. Once again, this means that the company's financial records are so messed up (poor management) that the financials are unauditable, or someone is not telling the truth. Regardless, promises were not kept and contracts have been broken.
Insofar as La Guardia's visits to MDMI are concerned, Mr. Parrish DID travel to Dallas and meet with Crawford and Dana, prior to executing the Investor Relations contract. It was understood that due to the close relationship between Mr. Carter and Mr. Verrill, it would not be necessary to make these trips on a regular basis. Additionally, La Guardia was not willing to shell out additional money for travel expenses, when the client was unwilling to make contractual payments.
Rustycar, I do not wish to entangle myself, Mr. Parrish, nor La Guardia into a long winded online debate. If you wish to identify yourself and provide us with an e-mail address and phone number (as we do), we would be more than happy to continue this conversation off-line. If you wish to continue to slander us online, we will protect our integrity, and use every means legally available to us to achieve this goal.
La GUARDIA GFS, Mr. Parrish nor myself have any contractual agreements with Mr. Carter. Mr. Carter has not responded to any e-mails or phone messages from anyone at La Guardia GFS in over 45 days. No one has been contacted regarding any legal suits or proceedings regarding either MDMI or Mr. Carter. La Guardia GFS has retained legal counsel to consult with them on the breach of contract by MDMI, however no formal legal action has been made to date.
Please feel free to contact us with any questions regarding this situation (investor_relations@twotrades.com or 888-577-6898). Mr. Parrish has agreed to answer any questions directly as well (cparrish@TwoTrades.com or 956-551-0898).
Sincerely,
Phil Hernandez
Public Relations
La Guardia GFS
twotrades.com |
