mmz ceo with a colourful past

Its amazing how little has come out on those running the show at MMZ.

I dont like the colourful past of STI's CEO Peter Boonen. A google search there will show why.

Peter Jermyn's business history seems tainted with a similar style imo and its worth noting if you are a holder or potential holder.

MMZ may land some massive win and announce within 6 days, but I really think people need to cover themselves in this situations and furute situations where like Al Gore said the planet is about to melt and now is in hiding from the backlash, MMZ quite probably has been a long winded pump and dump imo.

Trade wisely and prtect yourselves if possible imo.




http://www.austlii.edu.au/cgi-bin/sinodisp/au/cases/wa/WASC/1998/219.html?query=title(Spargos)

The pleading alleges that Jermyn was a director of the plaintiff ( Spargos ) between July 1979 and November 1989 and at various times was the managing director of that company. He was also the director of six other companies, one of which was Petrogulf Resources Ltd (Petrogulf). In 1987 Spargos was taken over by Independent Resources Ltd (IRL) and new directors including Michael John Fuller and Sir Cecil Denniston Burney, the first and second defendants named in this action, controlled the Board. Jermyn remained as the only independent director on the Board. It is pleaded in para 2.8 that Jermyn personally gained from the IRL takeover of Spargos . Jermyn and Peter Mark Smyth were substantial shareholders in Selection Gold Investments Ltd (Selection), a UK company which in turn owned 3,250,000 shares in Petrogulf. In December 1987 Selection sold its shares in Petrogulf to interests associated with IRL for $4,350,000 which represented a premium of $3,962,800 on the market value of shares in Petrogulf at the time.




http://www.theage.com.au/business/sympathy-lacking-for-multibitten-investors-20090812-eida.html


It's an intricate plot, but you can imagine the headlines that all made. What was the spat actually over? An investment in CircleCom, of course.
Tsamis had sunk cash into the company in the hope of huge returns that never appeared, and the case went before the courts last month.
The underworld links were too much for CircleCom boss Kim Wong, who promptly changed the company's name to Wintech. The company also needed a cash injection to pay for the acquisition of a company called Magnafield Technology, which itself had past ties to Karas and Khoury, as well as Melbourne wheeler and dealer Peter Jermyn.
To fund the deal and keep the companies





http://www.businessday.com.au/business/rowe-reduces-his-business-with-the-board-20090804-e8nl.html
Wintech a lose tech

THERE is just one real question surrounding the looming demise of listed computer distribution business Wintech Group where did the money go?

Wintech was reborn from the ashes of CircleCom just a few months back and returned to the Australian Securities Exchange with $2.55 million of cash in its account.
That money went into the companys coffers in March and was, if you believe the prospectus, meant to last two years.

Wintech started having problems paying its bills in May this year, just nine weeks after the money from the initial public offering arrived. National Australia Bank called in the receivers at Wintechs wholly owed subsidiary Magnafield Technology last week, with $5.1 million owed.

The mystery of the missing millions has left investors, bankers and accountants scratching their heads and most are waiting for Wintech and managing director Kim Wong to be a little more forthcoming with some answers.

Especially as the companys latest Appendix 4C document, detailing its financial position and the amount of cash remaining, was due to be released to the ASX on July 30. Newly listed companies must release a 4C every quarter for two years after listing, but Wintech has been tardy with the latest statement.

Its not the only piece of documentation that has gone missing in the Wintech saga. Melbourne investor Peter Jermyn the man who sold Magnafield into Wintech along with a group of private investors is listed as the sole director of Magnafield, but says he stepped down in April this year.

The ASIC records are incorrect, Jermyn said. I ceased to be a director on about April 18 and I cant explain why my name has not been removed.
And what about the suggestion he is the guarantor of Magnafields $5 million loan with NAB? I cant comment on that, Jermyn said.

It all makes one wonder how Wintech expected to stump up $5 million to buy a private company called Westan a deal announced to the ASX on June 30 this year.
That purchase, according to the owners of Westan, has now gone up in smoke which means the $500,000 deposit paid by Wintech can be returned.

Well, theres some money for investors




http://www.smh.com.au/news/business/time-to-get-with-the-reprogram/2007/01/05/1167777277255.html?page=fullpage#contentSwap2

Despite generating a meagre $2.9 million of revenues for the year, Ansearch still managed to pay its non-executive chairman Peter Jermyn $679,256 in options.

Ansearch director and former Sale of the Century host Glenn Ridge outdid any of his former game show contestants by getting $479,891 worth of options along with two other Ansearch directors for the year. In comparison, Ansearch chief executive Dean Jones was paid a $323,837 salary package. The company's revenues barely covered the $2.87 million in remuneration Ansearch made to its executives and board members in 2005-06.

According to figures provided by internet intelligence firm Hitwise, Ansearch commands a whopping 0.11 per cent of the Australian search engine market. It is the 23rd most popular search engine site visited by internet users in Australia. This compares with Google and Google Australia, which hosted 77.2 per cent of the search engine visits by Australian internet users. Mind you, the search engine has gone from the 13th to seventh most popular Australian-based search engine in the past year, with a massive 0.25 per cent of the market for local search engines. This compares to Google's Australian sites having around 90 per cent of the market for local search engines.