X-Message-Number: 9738
Date: Mon, 18 May 1998 22:44:17 -0800
From: American Cryonics Society <>
Subject: A New Beginning for Trans Time?

Trans Time, Inc. was formed by members of the American Cryonics Society
("ACS") (then "BACS") to provide suspension and long term cryogenic storage
to our members and friends.  This purpose has been "derailed" in recent
years.  With new leadership perhaps this original purpose can once again be
pursued.



In Art Quaife's "Reasons for Resignation" letter, that he sent to Trans
Time shareholders as well as posting to CryoNet (#9729 and #9730), he
brings up some old grudges which would have been better left alone.  Mr.
Quaife should move on to solving "Goldbock's conjecture," and leave the
rest of us in peace to get on with cryonics business.  Rubbing salt in old
wounds is not in the spirit of settlement of disputes, and to let bygones
be bygones, which course is pursued by me, as well as the American Cryonics
Society.

In these communications Mr. Quaife presents an incomplete and inaccurate
account of evens wherein I, and the American Cryonics Society ("ACS"), have
been at odds with the position of Mr. Quaife, and (often) Trans Time
("TT").  Mr. Quaife further makes reproachful reference to "our principal
antagonist," which wording, as used, will be understood by readers to mean
me; and indeed I have no doubt that is exactly what Mr. Quaife intended.

The discord, which came to exist between me along with many other present
and former ACS Governors, and Art Quaife and his company under his
Presidency, is unfortunate.  In addition to being a shareholder, I am a
former Director of Trans Time, and worked for years at low or no pay for
this company during its "lean years."  The same is true (to varying
degrees) of John Day, Jerry White, Dick Marsh, Margaret Bradshaw, and Edgar
Swank.  Three of these people are now in suspension, NONE of the three were
suspended by Trans Time.

Concerning problems with the partnership that owned 165 Gibraltar in
Sunnyvale, a building intended to be used for cryonic purposes, Mr. Quaife
writes:  "Trans Time was the only party to live up to its obligations under
the cotenancy purchase agreement."  This statement mischaracterizes the
situation.

Several owners felt that Trans Time did not live up to its obligations.
More specifically that Trans Time intentionally tried to see that the
business operation lost money in order to trigger provisions of our
partnership (cotenancy) agreement which would require other owners to sell
out to Trans Time at less than their ownership interest was worth.  Even
Trans Time's act to bring a partition suit against the other owners was
specifically disallowed by this agreement.  It is ironic that one of the
chief motives for ACS members investing in this building was to provide a
home for ACS, and A FACILITY FOR TRANS TIME!

It is disappointing that Mr. Quaife sees fit to brag about how much of a
victory Trans Time's suit against other owners was for Trans Time.  Had not
I and another owner (Harry Chang) opposed Trans Time's partition suit and
delayed the sale of the building until we again had a strong real estate
market, the building would have been sold in a bad market with a likely
loss to all investors.

Mr. Quaife also crows about the fact that Trans Time received cash out of
my share of the profit to settle Trans Time's suits against me and the
American Cryonics Society.  This settlement was, in no way, an admission of
wrongdoing of any kind.   There were various allegations, by both sides,
which competing claims would have been settled by trial.   The decision to
terminate suits and avoid trial (even at the cost of what I consider an
unjust settlement to Trans Time) was made purely for economic reasons.
Trans Time had much more money than me, had better lawyers, and even if I
and ACS won, Trans Time could further bleed away any possible profit, by
appealing the case, or filing additional suits.

What I gained in the settlement was an agreement by Trans Time and Mr.
Quaife to leave me and the American Cryonics Society alone: not file any
more suits against us.

However, no one really wins in such cases.  Any settlement Trans Time
received was likely a pittance compared to its legal costs.  Also, in
bragging about this one "victory" by Mr. Quaife and Trans Time, other suits
and disputes which didn't have such a rosy outcome for Quaife and company
were not mentioned.

In one paragraph Mr. Quaife blames "the destruction of Northern California
cryonics activity" and "transfer of most patients away from Trans Time to
other facilities" on "our principal antagonist".  I assume, by this
reference, Mr. Quaife means me.

Mr. Quaife's choice of the word "antagonist" speaks loads.  The interests
of ACS and Trans Time are not the same, and as a Governor of ACS the
interests of my own company come first.  When Trans Time's charges for
long-term cryogenic storage were almost FOUR TIMES that of another company
we deemed competent and reliable, we instructed Trans Time to transfer most
ACS patients to this new provider (CryoSpan).  I believe this was the
correct decision, but even if wrong, it was done with the best interests of
our patients in mind, and certainly not to spite or hurt Trans Time or Art
Quaife.  Mr. Quaife has never been able to understand that people can
disagree with him, and have contrary business interests, without being
"antagonists."

ACS also elected to use another cryonic suspension service provider
(BioPreservation) for suspension services to its members.  Previously our
suspensions were through Trans Time.  That decision was an obvious and
necessary one.  The two people in most urgent need of suspension services,
because of failing health, were Jerry White and Dick Marsh.  Trans Time
balked at suspending Jerry, because he had AIDS.  This was followed by
Trans Time notifying Dick Marsh that it wouldn't suspend him because Dick
allegedly owed it money over the 165 Gibraltar building (Dick was one of
the owners).

Both Dick and Jerry got excellent suspensions by a highly qualified team,
thanks to Mike Darwin, who was willing to provide these possibly
life-saving services.  I understand that some of Mike's associates were
very concerned that his assistance to us might trigger attacks on
BioPreservation by Trans Time and its team of litigators.  I will always be
grateful to Mike for accepting that possible risk, and coming to our aid at
that crucial time.

Since cryonic suspension may be a life-saving technology, we need to assume
it is, and proceed accordingly.  In my opinion, we have the same moral
obligation to our members that doctors have (or should have) to their
patients.  If a doctor were to refuse life-saving treatment to a patient
because the patient owed him money on a matter not related to his practice,
that doctor would not be viewed favorably by other doctors, or by his other
patients.  Then, if a second doctor stepped in and provided this
life-saving treatment, in spite of concerns that he might be sued for so
doing by the litigious first doctor, the second doctor's courage and
compassion would be respected by all.

Trans Time was formed to provide cryonic suspension services, NOT to be a
stock holding company.  I am saddened to see that this original purpose has
not been maintained.  At one time, during those lean years, I was the
second largest stockholder in TT.  This was NOT because I thought TT was
such a promising company.  It needed the investment of my time and money to
survive.

When TT didn't have much money, we were all content to donate time, make
loans, and buy stock.  We were also willing to be somewhat forgiving of
Trans Time for any shortcomings it had in suspension technology or patient
safety.  It was doing as well as it could, given the resources at its
disposal.  We expected that when it DID have money, it would use that
capital to provide quality suspensions, and to beef-up safety for its
frozen patients.  The real break in relations and loss of confidence in
Trans Time came when it DID have money, but didn't USE THAT CAPITAL (to the
satisfaction of a number of us) to become a first-rate suspension and
long-term patient storage company.

With new management I, and other former friends, would like to see the
company make a new start.  We STILL would benefit from a reliable
for-profit suspension company in the Bay Area.  Wouldn't it be wonderful to
see Trans Time use all that money it is sitting on to support cryonics
research and provide top-rate suspension services?

Saul Kent and Bill Faloon are currently supporting about $1,000,000 a year
in cryonics related research through 21st Century Medicine.  If Trans Time
were to provide just $500,000 of its hoarded $1.8 million and add it to
Saul and Bill's money, this capital influx might make a huge difference to
the pace of progress of cryonics research.  THAT would be the real
"tremendous return"!  Let's compound CRYONICS RESEARCH 143%!  THAT is what
Trans Time was originally about.  THAT is what it should be about still.

Let me close on a high note, by acknowledging the positive contributions
Art Quaife has made to cryonics, especially in the early years.  I wish him
good health, long life, and a happy retirement.

Long life,

Jim Yount


=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+American Cryonics Society
(650)254-2001
                      FAX (650)967-4444
P.O. Box 1509
Cupertino, CA 95015
=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+

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