Time: Mon Oct 20 19:09:49 1997
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Date: Mon, 20 Oct 1997 19:07:19 -0700
To: (Recipient list suppressed)
From: Paul Andrew Mitchell [address in toolbar]
Subject: TC's
At 06:40 PM 10/20/97 -0600, you wrote:
>Paul,
>
>This is great!!
>
>I'll contact Steve tomorrow and see about getting you some interim
>financing. :) For returns of 10,000 times, I'd better get the ante up.
I know you don't like the telephone,
but this could be a very short, very
cordial, but also very important
telephone conversation. He would like
to experience your enthusiasm for flying,
and I am sure the professional quals
will be presented, and confirmed, later.
>
>Just kidding.
U.C. Irvine must be stewing in their
democratic socialisms right now!!
I never told you, but I used to be
a Research Associate at their
Public Policy Research Organization!!!
>
>I hope to have a complete set of numbers
>ready by Friday, or possibly Monday.
Make a realistic estimate, which you
can keep. That builds trust.
One thing to discuss with AmEx is
confidentiality; it wouldn't hurt
to get a verbal confirmation from
him, that all this data will be
kept STRICTLY CONFIDENTIAL. He has
already agreed to this, verbally,
with me. I don't think it needs
to be in writing -- not at this stage.
Another reason for confirming this, is
that he talked briefly about involving
their in-house trust expert. This will
be a perfect lead-in to request that
she (the trust expert) read all the
pleadings which I wrote concerning the
New Life Health Center pure trust, to
confirm the law on pure trusts. Her
reaction to that entire set of pleadings
will tell us a lot about their willingness
to do some real business with us.
Steve was also impressed by the possibility of
a solid charter contract from the Dept. of Interior,
for that airborne command post you mentioned.
>
>I just learned that the existing certificate holder
>is belly up as of Nov. 1.
Ouch!! 10 days -- very short fuse.
I definitely will not have any settlements
by then. It would be a miracle, if any money
changed hands that fast. People using the
book are now starting to dive for cover,
rather than to pay up. Kleinpaste was the
biggest shock of all ;-(
You may not know this, but his company
is a subsidiary of the Japanese company
which wrote THE most successful Japanese-
language word processor in the history
of that country. Somebody may lose a finger
in their U.S. office over this scandal.
Plot thickens, yes? HAI!! The 4th ed. book
is definitely getting to be a "hot" commodity,
yes? (pun intended)
>I'll have more information for you on
>just how the certificate works, and
>what his folding up means to us.
We must be direct and immediate with each
other, because if time becomes of the essence
like this, it may necessitate much faster
action. What do we have to offer, beyond
management and pilot credentials, at this
point, if we don't have our own money?
All I have to offer are the highly speculative
possibilities from possible settlement offers.
These don't really talk turkey, if you know
what I mean.
If we cannot come up with the AmEx retainer,
that tells them everything they need to know,
i.e., that we can't deliver on the simplest,
up-front necessity.
Wouldn't you do the same? I would!
I DO!!
>
>We can get a fresh certifcate for $2000. The certificate requires an
>aircraft. Possibly we can buy his certificate for less than $2000 and carry
>a local bank's Cessna 414 as our aircraft of record. This will involve a
>state bank [owned by a NM senator] as a partner. How do you feel about this?
Does the NM senator know about this yet,
or do we have to start from scratch with
him? Either way, I would say that this
is your call. I am for it, if you are
for it, barring any nasty strings, like
an IRS lien on the plane, or similar uglies.
Such up-front expenses should be treated
as loans to the trust, re-payable at
par, or at some standard interest rate,
e.g. T Bills plus 2 percent.
>
>More later,
AmEx wants a business plan, and since we
don't have one, they are willing to help
us prepare one, but this will require
an earnest retainer, to prove that we
are serious. Perhaps the pilots you know
could pool $2,500 each, and we could
split that money 75/25, so I can cover
some bills, and AmEx can get the 75% share,
to cover their retainer. How many pilots
would be interested? Could we assign to
them partial rights from any settlements
we get from copyright violators?
Thanks for the quick response.
In the future, if you need some time to
gather your thoughts, just say so, and
give me an ETA on your expected completion.
If you have a solid business opportunity
in this charter company, we should "un-hinge"
it from the copyright settlements, imho.
This gives us a lot more flexibility, albeit
at the cost of diluting TOT's equity position
in the final deal.
I will pray on it tonight, and the guidance
will come. We have already come very far;
we wouldn't have come this far, if we weren't
already getting lots of special guidance.
Of this, you can be sure! :)
/s/ Paul Mitchell
http://supremelaw.com
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