I know no matter what I say to you you will bash my answers

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May 23, 2013 at 7:15 PM

I know no matter what I say to you you will bash my answers but I will answer anyway. I also know that no other CEO of any public company takes the time to answer questions like this.

1) JC is a bad guy - we already knew this. Steve makes a deal with him, makes him President. Then tells us he was a bad guy anyway (like we didn't already know) and we are better off without him.

When we made the deal with JC we did not know about him not paying payroll taxes. We did not know the employees that later contacted us and told me he did not pay them. We did not know some day in the future he would lie about how many stations we where on. We bought the assets because we did not want to be held to any liabilities that there may have been, but that is a common way to buy operations and defend yourself against unforeseen issues.

2) Some affiliates have not been broadcasting for months. There are shareholders who apparently knew of this before Steve did. Not long ago, Steve says that he was recently made aware of these affiliates being off the air - months later. This is where "all our efforts" were focused but apparently not focused enough to know that there was dead air in major markets.

JC was the one in charge of affiliates. He was the person that communicated with them. He hid the communications he had with them. I didn't check his emails everyday or ever because thats not something you do. When we found out about a group of them being off the air we confronted JC and rather then respond he attacked and tried to push me out of the company so he could hide what we found. This did not work of course. As we where voting to fire him and sue him for the shares he and Punch received he demanded a recision under CA law. We signed the agreements to buy Punch and hire him under Florida law. So his recision demand held no effective power. The goal was to get rid of him and get all our shares back. One legal team required 70K and the other one 20k to do this. Rather then spend a min of 90k my lawyer recommend we just accept his recession request because it get us what we wanted.

3) A year ago the countdown that led to the major run led to the PR of the EZ-VIP deal. That was supposed to be the "next level." Just a reminder. That deal died. And this does not feel like a next level.

This was a TV which we where going to produce. Al Nelson could not deliver the stars he initially said he could so without the stars the show made no sense so we pulled the plug. At the time we did not own a TV network. It was exciting to move in the direction of producing a TV series and we eventually continued in that direction.

4) We had no revenues in a quarter where again "all efforts" were put toward TV. Yes, the deal was rescinded but what does "all efforts" exactly mean. Steve once said that the self-help site he had up (in the past) made a couple grand a month with him doing nothing. Yet, that also made no money. This doesn't make any sense.

Makes all the sense in the world. There are limited hours in the day. I have only a limited budget so I had to focus on what would make us the most money. That was television. When we had extra revenues we would add staff and begin cultivating other areas.

5) We have yet to hear anything "official" from the lawyers in terms of the meat and potatoes of what the deal is with the falling out of Punch. We have received piece-meal info from Steve but that ain't enough. That piece-meal info left out that that we had no revs from punch. I only bring this up because STEVE said we would be receiving an official word from it. And we have not gotten it.

You have heard from our filings. They are very clear. Read them.

6) I may be beating a dead horse with the lawyer thing above. But that points to something - a trend - that is more sinister. Steve does not stick to his word with regards to when he is going to do something. This has happened in the past with the failed countdown. When you say you are going to do something at a specific time and then DON'T, your credibility is sacrificed.

There are delays in business. I have done my best to keep the public in the loop in the past as we moved towards deals. This is uncommon for public companies but I felt it would be a good idea to try to keep people informed as we moved forward. I learned that I was wrong. Because with so many moving parts things change. Through we can internally handle to rapid changes we came upon building a new media company, unless we micro managed our communications it was impossible to communicate the changes in the middle of deals. As an example in retrospect I would not have told anyone about the EZ TV show until it was in production. Especially in the TV business show deals are made and killed on a daily basis. To get a show to air with all the moving parts is a combination of all the stars aligning and some luck. Currently we are many projects in the works but will not announce any of them till we begin filming.

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