X-Message-Number: 1221
From: 
Subject: CRYONICS Corrections
Date: Tue, 22 Sep 92 18:45:43 PDT

Here are corrections to Alcor September Business Meeting Report:
 
"Eric responded that this was a high-risk investment, and was not 
reasonable for that reason."
 
Should be changed to:
 
"Eric responded that this was a high-risk investment since both the
lender and the borrower would be the same entity - Alcor.  Therefore
the Endowment Fund principal should not be used for this purpose."
 
The fact that the everyone on the Patient Care "Trust" Fund Advisory
Committee and the Endowment Fund Advisory Committee resigned was also
not mentioned.
 
The fact that the Committee members handed out copies of their 
resumes as they resigned was not mentioned.
 
The fact that Courtney Smith not only resigned from both Committees but
also withdrew his offer to advise Alcor informally on these Funds and
also withdrew his offer of letting Alcor use his name in any
promotional matter was not mentioned.
 
The fact that none of the recommendations by either Committee were
approved or disproved by the board was not mentioned.  
 
The fact that both Committees submitted their recommendations eight
days in advance was not mentioned.
 
The fact that Alcor "forgot" to put the Investment Committees on
the agenda for the day was not mentioned.  Because of this "mistake"
there was a motion to adjorn the meeting before the Committees
submitted their extensive 10-page report.
 
"     Dave suggested that Eric give written suggestions to the board--by a 
week before the next meeting--on how Alcor could handle its books to the 
satisfaction of Eric and other concerned parties."
 
The fact that Eric responded later by saying that the first thing that
the members of the Committees would like to see was for their
recommendations to be approved or disproved was not mentioned.  Until
the board takes this action it should expect no further response by the
members of the now disbanded committees.
 
"     Michael Riskin brought up the topic of an "ombudsman" (a liaison 
between members and the board), offering to perform this duty himself."
 
The fact that Michael Riskin also offered to do a free informal audit of
Alcor's books was not mentioned.
 
The fact that Michael Riskin's offer was not immediately accepted and
that Alcor told him that it would be difficult to provide the necessary
materials to him was not mentioned.
 
The fact that Michael Riskin told the board that he thought it would
just take a little xeroxing to provide him with the necessary materials
was not mentioned.
 
And finally,
 
"     Dave Pizer then went to great trouble to explain that when Carlos 
stated that Alcor is running at a surplus, he is referring to how our 
finances compare with our _projected_ finances for this period."
 
Should have the following explanation added to this sentence "Of
course, a deficit and a surplus are antonyms -- words that are 
opposite in meaning.  Another year running a negative $200,000/year
Carlos "surplus" would put Alcor in grave financial danger.".

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