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.". Rate This Message: http://www.cryonet.org/cgi-bin/rate.cgi?msg=1221