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Technology Stocks : Preference Technologies

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To: Edward Williamson who wrote (387)4/13/2004 10:31:04 PM
From: StockDung   of 460
 
HEY ED, WHAT UP WITH SKUP?-> December 10, 2003 Re: Securities and Exchange Commission v. Net World Marketing, Inc., et al. (Civ. No. 00-1459WEB, D. Kan.) Dear : I am the court appointed Receiver in the above-referenced legal action commenced by the Securities and Exchange Commission ("SEC") in the U.S. District Court of Kansas. This action alleges that Edward B. Williamson operated a fraudulent scheme through the sale of securities of Net World Marketing, Inc. ("Net World") and other Receivership defendants. As Receiver, I have been charged with collecting and taking possession of the assets of the Receivership defendants. I have now received court approval to proceed with a Plan of Distribution of Receivership assets ("Plan"). Based on my review of all assets which came into my possession, it appears most of these assets can be traced to Net World offering proceeds. The Plan proposes to distribute all Receivership assets remaining after payment of Receivership expenses, to the investors in Net World pro-rata based on the amount of investment. The records of Net World, which I have reviewed, indicate that you may be an investor eligible for this distribution. To be eligible to receive a distribution under the Plan, an investor must complete the attached "Claim for Payment" form in its entirety. The form must be verified under oath before a Notary Public, and sent postage prepaid postmarked no later than January 14, 2004, and addressed to: Morris, Laing, Evans, Brock & Kennedy, Chtd. Attn: Tamy St. John Old Town Square 300 North Mead Wichita, Kansas 67202-2722 Old Town Square ! 300 N. Mead, Suite 200 ! Wichita, KS 67202-2722 T: 316.262.2671 ! F: 316.262.6226 ! www.morrislaing.com Topeka Office Located in USBank Building
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Law Offices of Morris LaingInvestor Letter December 10, 2003 Page 2What is the status of the case? The action remains pending before the U.S. District Court in Kansas. I have collected all known assets of the defendants and paid Receivership expenses after approval by the Court. There will be some additional expenses. Assets remaining after payment of all expenses will be distributed to investors pursuant to the Plan. The Court file in this matter is a public record which can be reviewed at the Office of the Clerk of the U.S. District Court at 401 N. Market Street, Wichita, Kansas 67202. Who is eligible for a payment? The Plan proposes to divide assets available after expenses to all Net World investors who are eligible claimants, pro-rata based on the amount of that investment. Only those who invested money in Net World are eligible. What must I do to claim my money? You must complete the attached "Claim for Payment Form" and verify the claim under oath before a Notary Public, and send the claim by U.S. mail, postage prepaid and postmarked on or before January 14, 2004, to the above-referenced address. How do I get more information on the Plan or claims process? You may contact my office as outlined at the end of this letter, or access the SEC Investor Claims Fund website. To access the SEC website go to www.sec.gov; under the "Investor Information" menu click on "more;" next click on "Investors Claims Funds;" and finally click on Net World Marketing, Inc. May I have an attorney assist me in filing the claim? As Receiver I cannot represent the interests of any individual investor. You may seek the assistance of a personal attorney, although this is not necessary or required to make a claim.
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Law Offices of Morris LaingInvestor Letter December 10, 2003 Page 3How much am I going to get if I file a claim? This will depend on how many claims are filed and the assets remaining after expenses of the Receivership and distribution. I currently have cash on hand of approximately $109,149.97, and have current unpaid expenses of approximately $4,810.21. Additional expenses will be incurred in making the distribution and preparing a final accounting and request for discharge from the Court. The records I have indicate that there may be approximately 600 investors in Net World who invested approximately $1 million. I expect that the ultimate distribution will be small and approximate $.08 to $.09 per dollar invested. However, this is just an estimate. The expected date of the distribution is sixty (60) days to ninety (90) days after the deadline for filing a claim. What if I invested in other Receivership defendants or companies controlled and promoted by Edward Williamson? Under the Plan you will only be eligible for a payment based on your investment in Net World. How do I challenge the planned distribution? You may object to the Plan by filing a written objection or motion with the Court on or before the deadline for submitting a claim. If you choose to do this you may want to retain the services of an attorney and you may be required to appear in Court. If you have additional questions you may contact Tamy St. John at (316) 262-2671. Very truly yours, Roger N. Walter RNW:ajg Enclosure
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