June 9, 2010

The May Report: 6/9/2010: Allscripts, Eclipsys to merge for $1.3B; Neil Kane to
testify before Congress on successful tech commercialization; While AEI fights
FINRA cases, Dwight Badger buys a $2MM plus home in Lake Forest from former
Bulls player Ben Wallace and the shoe may drop on well known local VC Lon Chow

Editor and publisher: ron@themayreport.com, ronaldmay@aol.com,
www.themayreport.com , 773-525-3944.

If you missed an article, go here:
www.tmronline.com/A55951/tmrarticles.nsf/vwFullNewsletter
_______________________________

TABLE OF CONTENTS

The Scoop section:

— Allscripts, Eclipsys to merge for $1.3B
— Virent Energy Systems Inc., a Madison, Wis.-based developer of a catalytic
biomass processing system for making transportation fuels, has raised $46.4
million in third-round funding from return backers Shell and Cargill
Ventures
— Neil Kane of Advanced Diamond Technologies to Testify Before Congress on
Successful Technology Transfer Strategies
— Wednesday, June 9: Ignite Chicago
— June 15, 2010: The Connected World magazine launch party
— BWAY Holding Co. (NYSE: BWY), a North American supplier of general line
rigid containers, said that its shareholders have approved a $20 per share
buyout offer from Madison Dearborn Capital Partners
— While AEI fights FINRA cases, Dwight Badger buys a $2MM plus home in Lake
Forest from former Bulls player Ben Wallace and the shoe may drop on well known
local VC Lon Chow, by Ron May

[Editor's note. May here. I'm having problems accessing my online web interface
which gets the email going to ron@themayreport.com, so please send don't hit
the reply button and send anything you have now to ronaldmay@aol.com which is
working just fine. I have no replies from the last two reports. BTW, if you
want to advertise, and a few of you have said you were interested, now would be
a good time to do it.]
__________________________________
The Scoop section:
____________________
Allscripts, Eclipsys to merge for $1.3B

Subject: Allscripts, Eclipsys to merge for $1.3B
Date: 6/9/2010 7:41:34 A.M. Central Daylight Time
From: ed.longanecker@techamerica.org
To: ronaldmay@aol.com

www.cmio.net/index.php?option=com_articles&view=article&id=22622&division
=cmio

Best regards,

Ed Longanecker

Executive Director, Regional Director of State Government Affairs

TechAmerica Midwest

NEW PHONE: 630-282-4332

ed.longanecker@techamerica.org

www.techamerica.org

AeA & ITAA have merged to form TechAmerica

Where the future begins
_______________________________________
Virent Energy Systems Inc., a Madison, Wis.-based developer of a catalytic
biomass processing system for making transportation fuels, has raised $46.4
million in third-round funding from return backers Shell and Cargill
Ventures

Virent Energy Systems Inc., a Madison, Wis.-based developer of a catalytic
biomass processing system for making transportation fuels, has raised $46.4
million in third-round funding from return backers Shell and Cargill
Ventures. The company previously raised nearly $40 million.

PRESS RELEASE
Virent Energy Systems, Inc. announced today it has closed a $46.4 million
third round of funding in which Shell and Cargill deepened their commitment
to Virent’s breakthrough technology platform. Virent is an industry leader
in converting plant sugars into sustainable advanced fuels for car, truck,
train, and air transportation. This new round of funding will advance
Virent’s efforts to scale its unique BioFormingR process, a patented
catalytic biorefinery platform, to commercial production volumes.

The investment agreement also expands an existing research and development
collaboration with Shell for the production of biogasoline to include diesel
fuel. With its new equity stake, Shell will also have a seat on Virent’s
board. The investment round is further highlighted by 100 percent
participation from existing investors.

The financing follows a March 2010 milestone in which Virent announced the
successful start-up of the world’s first biogasoline production plant. The
Virent demonstration plant can generate more than 10,000 gallons per year of
premium biogasoline product and increases confidence in the commercial
viability of the technology.

“Virent has a competitive advantage from our strong relationships with two
premier, global companies, Shell and Cargill. Their significant capabilities
and expertise across the value chain will be essential to accelerating
deployment of Virent’s BioForming technology at commercial scale,” said Lee
Edwards, Virent president and CEO. “I am especially gratified that our
accomplishments to date have resulted in a $46.4 million funding round,
which is well above our initial $25-40 million objective.”

“This investment demonstrates Shell’s confidence in Virent’s catalytic
biofuel production processes,” said Luis Scoffone, Vice President of
Alternative Energies at Shell. ”The expansion of our joint technology
program to include research into the production of diesel from plant sugars
offers considerable potential and complements Shell’s wider biofuels
portfolio.”

“Over the past four years, Cargill has supported Virent’s innovative
sugars-to-hydrocarbons technology as it has evolved into a true biorefinery
solution with the potential to help replace petroleum as the source of fuels
and many chemicals,” said Scott Portnoy, corporate vice president of
Cargill. “We also see the technology’s feedstock flexibility as an important
characteristic to enable replacing the sugar source used in producing
biogasoline with nonfood sources, such as sugars derived from
lignocellulosic feedstocks.”

Virent’s BioForming platform technology catalytically transforms soluble
plant sugars into gasoline, jet fuel, diesel, and chemical molecules like
those refined from crude oil. These renewable products have global market
acceptance and can readily enter the market using existing pipelines and
fuels pumps to power today’s vehicles at high blends.

About Virent Energy Systems

Virent’s BioForming process is a leading technology for the production of
sustainable advanced biofuels, including biogasoline, diesel, and jet fuel,
and many chemicals. The process has won numerous technology and innovation
awards including the U.S. Environmental Protection Agency’s Presidential
Green Chemistry Challenge and the World Economic Forum’s Technology Pioneer
awards. Virent has 80 employees and a state of the art catalytic biorefining
development facility located in Madison, Wisconsin. Virent counts premier,
global companies Cargill, Shell, and Honda, among its investors. The
BioForming technology is based on the patented Aqueous Phase Reforming
process. To learn more, visit: www.virent.com.
__________________________________
Neil Kane of Advanced Diamond Technologies to Testify Before Congress on
Successful Technology Transfer Strategies

Subject: Neil Kane of Advanced Diamond Technologies to Testify Before Congress
on Successful Technology Transfer Strategies
Date: 6/9/2010 11:06:06 A.M. Central Daylight Time
From: nkane@thindiamond.com
To: ronaldmay@aol.com

Neil Kane of Advanced Diamond Technologies to Testify Before Congress on
Successful Technology Transfer Strategies

Romeoville, IL-June 9, 2010- Tomorrow, Mr. Neil Kane, president and co-founder
of Advanced Diamond Technologies (ADT) will testify with other witnesses before
the U.S. House of Representatives’ Subcommittee on Research and Science
Education, Committee on Science and Technology, “From the Lab Bench to the
Marketplace: Improving Technology Transfer,” offering strategies for
translating great science into great products.

As the former Executive Director of the Illinois Technology Enterprise Center
at Argonne National Laboratory and Entrepreneur in Residence with Illinois
Ventures, Mr. Kane was part of the start-up team for four university technology
transfer spinoffs, three of which have raised tens of millions of dollars of
venture capital and collectively employ over 100 people. He has closed several
rounds of venture capital from various sources and has secured numerous SBIR
and government contracts and awards.

Mr. Kane’s testimony represents the perspective of a start-up company founder
who has launched several businesses based on research performed at federal
laboratories or at universities with federally funded grants. He will present
principles and best practices critical for making a technology transfer
start-up a success. “I’ve learned that the real challenge is not transferring
the technology out of the laboratory-it’s transferring the technology into the
marketplace. If we do everything right except get products to market, we’ve
accomplished nothing.”
The hearing will address three issues: (1) how knowledge and technology are
transferred from academic and research institutions to the private sector, (2)
best practices to facilitate the commercialization of government funded
research to benefit society, and (3) ensuring the economic competitiveness of
the United States.

It is scheduled for Thursday, June 10, 2010 at 10:00 a.m. EDT in the Rayburn
House Office Building, Room 2318. When available, Mr. Kane’s full written
testimony and a webcast of the hearing may be viewed from www.thindiamond.com.

About Advanced Diamond Technologies

ADT is the world leader in the development of diamond for industrial,
electronics, energy, and medical applications. ADT is a World Economic Forum
2007 Technology Pioneer, a recipient of a 2008 EuroAsia IC Award from EuroAsia
Semiconductor magazine, a 2008 R&D 100 Award winner for UNCD® Seals (mechanical
seals for pumps), and a 2009 R&D 100 Award winner for NaDiaProbes® (the world’s
first all-diamond AFM probes). For more information, visit www.thindiamond.com.

Calyx Consulting
Jill Jackson
Email: jill@calyxconsulting.com
Phone: 312.231.9870
__________________________________________
Wednesday, June 9: Ignite Chicago

Subject: Ignite Chicago
Date: 6/8/2010 3:16:30 P.M. Central Daylight Time
From: avelo@emotioncorporation.com
To: ronaldmay@aol.com, ron@themayreport.com
CC: eds@emotioncorporation.com, nrokop@iit.edu

Dear Ron,

I thought you might be interested in attending and reporting on this event
called Ignite Chicago.

Date: June 9th
Venue: 200 s wacker drive, 15th floor. TechNexus.
Time: Food/networking is from 5:30 pm – 6 pm, and the presentations will begin
promptly at 6 PM.

You can find out more about Ignite at ignite.oreilly.com/ and
specifically about Ignite Chicago at ignitechi.org/

Regards,

Avelo Roy
Co founder, eMotion

708 752 2718
_____________________________________
June 15, 2010: The Connected World magazine launch party

Subject: event listing
Date: 6/9/2010 9:26:02 A.M. Central Daylight Time
From: slundin@bigfrontier.org
To: ronaldmay@aol.com

When was the last time you heard of a major national magazine launching – and
in Chicago no less??? Join BIGfrontier for the festivities on the night of
June 15, 2010: we’re personally inviting you to a reception for the launch of
the new Connected World magazine. Like Wired? You’ll love Connected World.
The magazine will cover the confluence of wireless devices within the business
and consumer space. And did we mention that it’s being published in Chicago?
Well, it’s being published in Chicago. And we truly hope to see you there for
the kickoff party – at McCormick Place, with an OPEN BAR! There are at least
1000 people we can think of who would walk from Canareyville to Berwin for a
free drink, and this is one heck of a lot closer.

Book your space today for the hottest party ticket in June:
The Connected World magazine launch party.

June 15, 2010 6:00 – 8:00
McCormick Place Convention Center
Vista Ballroom (Room 406)

OPEN BAR

Free of charge

register at: www.bigfrontier.org

Meet MIT’s Henry Holtzman at the BIgfrontier Connected World Reception: June
15th

When All Things Connect–Are We There Yet?

As more devices become connected through the use of M2M technology, what new
opportunities will emerge for both businesses and individuals? Henry Holtzman,
Chief Knowledge Officer, MIT Media Laboratory, shares a vision for how
technology can ultimately facilitate a world in which physical and virtual
environments connect, and how, through the development and implementation of
standards, we can create truly unique innovations.

Meet Henry Holtzman at the BIGfrontier Connected World Reception: June 15,
2010, 6-8:00 PM, Open Bar, McCormick Place Convention Center: Vista Ballroom
(Room 406) – complimentary.

Register here

Henry Holtzman has been a member of the MIT community since 1981, joining the
Media Lab as a researcher when it opened in 1985. Currently, he is the Lab’s
Chief Knowledge Officer, executive director of the Digital Life consortium, and
director of the Information Ecology research group. In addition, Holtzman
directs the Lab’s CE 2.0 initiative, a collaboration with 14 Media Lab sponsor
companies to formulate the principles for a new generation of consumer
electronics that are highly connected, seamlessly interoperable,
situation-aware, and radically simple.

Holtzman has led research projects in the areas of tangible networking and
image compression, resulting in desktop applications for RFID such as the Smart
Mousepad, multicast network architectures for multimedia, IP television,
scale-free image representation, and knowledge-based video representation. As a
member of the MPEG standardization committee, he helped to define MPEG-2 video
technology, used in DirecTV, DVD, digital cable, and digital TV broadcasting.
Holtzman has been granted multiple patents for his inventions.

Holtzman has extensive experience with RFID, computer programming, hardware
design, operating systems, and network architecture. He has worked with Codex,
a subsidiary of Motorola Inc.; Apple Computer; Hearst New Media; and Art
Technology Group. He was founder, CEO, and CTO of Presto Technologies, Inc., a
Media Lab spinoff that introduced many novel uses for RFID to the market. He
received his MS in media arts and sciences, and his BS in computer science,
both from MIT.

Steve Lundin
Chief Hunter and Gatherer

Twitter: @bigfrontier facebook.com/steve.lundin
www.blogfrontier.org
Main: (312) 238-9308 Direct: (312) 602-2434 Cell: (312) 391-8007 Fax: (312)
602-2450
BIGfrontier Communications Group
211 W Wacker #1150 Chicago, IL 60606 www.BIGfrontier.com www.BIGfrontier.org
Producers of the BIG Idea Breakfast Events

Winner: 2003, 2004 BMA Tower Awards; 2003, 2006 League of Professional
Communicators award of excellence, 2006 PCC Golden Trumpet; 2006 PRSA: WI Best
of Show
___________________________________________
Ron May here: I usually don’t editorialize before events – but this BIGfrontier
reception for Connected World Magazine may be unique. Hey Frank “wanna be game
show host” Grub-er – pay attention – Lundin was doing these things back when
you were gazing into a Barney Baby mirror. Here’s what makes this interesting:

1) We haven’t seen an evening BIGfrontier related event since, well — six or
seven years ago. For those who weren’t around, Lundin’s first event was
designed to compete with an event called FirstTuesday – which was organized by
our now Ambassador to Canada – none other than David Jacobson (a name that
doesn’t ring any bells anymore). Jacobson had an event at Drink nightclub that
brought in over 1,000 people. Lundin threw his event, (called LastTuesday at
that time), on the last Tuesday of that same month AND in the same venue. He
created enough confusion that the same (over 1,000) people showed up. Frank –
that’s called having a strategy. He put the whole thing together in less than
three weeks and it worked. Lundin always wrapped his events around content -
but stopped “buying everybody drinks” years ago. What’s the matter Steve – got
sick of success??? Please.

Which brings me to my second point:

2) Content. When really was the last time anything NEW came out of Chicago’s
tech community? We’ve been talking about plenty of OLD – and now the “new”
tech event – Tech Cocktail – really isn’t so new anymore — in fact, in July,
it will be four years old. And it really hasn’t changed much either. Frank
started buying drinks. Now he’s charging for them. Frank if you put your
skills to use hosting TupperWare or planning wedding parties you would have
retired by now. Everyone — and I mean everyone — who is involved in this
tech game should be showing up at this event and supporting this new Connected
World magazine – because it IS NEW – it IS from Chicago – it WILL be published
nationally – and it DOESN’T have any associations with any of the has-beens,
never were’s or legends in their own minds. In other words – it might have a
chance to put a little more than lipstick on this pig we call a tech
community. That being said – I probably won’t be there – which should
guarantee at least another 250 sign ups. Lundin tells me that he is promoting
and sponsoring this event – for this new publication – and the budget is for
around 700 attendees for an open bar. Let’s put it to the test.

Your personal invitation to the 6/15 BIGfrontier/Connected World magazine
reception
Launch a magazine in this economy! Are you crazy?
_______________________________________
BWAY Holding Co. (NYSE: BWY), a North American supplier of general line
rigid containers, said that its shareholders have approved a $20 per share
buyout offer from Madison Dearborn Capital Partners

BWAY Holding Co. (NYSE: BWY), a North American supplier of general line
rigid containers, said that its shareholders have approved a $20 per share
buyout offer from Madison Dearborn Capital Partners. The deal values BWAY at
approximately $915 million (including assumed debt). Bank of America Merrill
Lynch and Deutsche Bank Securities will provide leveraged financing.

PRESS RELEASE

BWAY Holding Company (NYSE: BWY) (the “Company”), a leading North American
supplier of general line rigid containers, today announced that its
stockholders have approved the proposal to adopt the merger agreement
providing for its acquisition by entities created by certain affiliates of
Madison Dearborn Partners, LLC (“MDP”). The approval included both the
affirmative vote of the holders of (i) a majority of the outstanding shares
of common stock of the Company and (ii) a majority of the outstanding shares
of common stock of the Company that are not held by affiliates of Kelso &
Company, L.P. (“Kelso”), as required by the merger agreement.

According to the final tally of shares voted, more than 83% of the
outstanding shares of common stock of the Company, and 73% of the
outstanding shares of common stock of the Company that are not held by
affiliates of Kelso, in each case, as of the close of business on May 6,
2010, the record date for the stockholders’ meeting, were voted to approve
the proposal to adopt the merger agreement.

All approvals, consents or consultations required to consummate the merger
under U.S. and foreign antitrust laws have been obtained or made, and
accordingly, the related condition to the consummation of the merger set
forth in the merger agreement has been fully satisfied. The consummation of
the merger remains subject to the satisfaction or waiver of certain other
closing conditions set forth in the merger agreement and discussed in detail
in the Definitive Proxy Statement on Schedule 14A filed with the Securities
and Exchange Commission by the Company on May 7, 2010. Subject to
satisfaction or waiver of all conditions to closing, the parties expect that
the merger will be completed by the end of the second calendar quarter of
2010.

About BWAY Holding Company

BWAY Holding Company is a leading North American supplier of general line
rigid containers. The Company operates 20 plants (excluding announced plant
closures) throughout the United States and Canada serving industry leading
customers on a national basis.

About Madison Dearborn Partners LLC

Madison Dearborn Partners, LLC, based in Chicago, is one of the most
experienced and successful private equity investment firms in the United
States. MDP has raised over $18 billion of capital since its formation in
1992 and has invested in more than 100 companies. MDP invests in businesses
across a broad spectrum of industries, including basic industries,
communications, consumer, energy and power, financial services, and health
care. For more information, please visit the MDP website at www.mdcp.com.
_________________________________________
While AEI fights FINRA cases, Dwight Badger buys a $2MM plus home in Lake
Forest from former Bulls player Ben Wallace and the shoe may drop on well known
local VC Lon Chow, by Ron May

* I have not written much about Advanced Equities, Inc. in a while and the
dynamic duo of Dwight Badger and Keith Daubenspeck.

Much is going on.

My latest information is that:

— There have been and continue to be a number of lawsuits against AEI, most of
which are handled as FINRA arbitration cases. Many of those cases have now been
settled. I heard that the total amount in dispute is in excess of $150MM, but
that figure is very much in dispute. It is probably far off the mark in that it
is too high. I have information that the total “exposure” or reserves as they
say in the business that AEI has is actually about $15MM.

To understand why there is such a huge disparity in the numbers a few things
must be taken into account. First, not all suits are broker suits. There are
some employment suits, and then there are customer suits, but the customer
suits have mostly been settled.

Second, I don’t want to get too technical here, but there is something called
“set-offs.”

When a broker joins a firm, he or she is given a signing bonus and those checks
can be big ones. When a broker gets warrants, it is against liabilities that he
or she has.

As anyone who has been in sales knows, it is essentially a draw vs. commission
system. And when all is said and done, the monies owed to the firm by the
brokers off set the liabilities that the firm has due to warrants.

One old time broker, John Galinsky, is a good example. He was there for such a
long time that there were no doubt large set-offs especially due to the economy
being so bad. But AEI was probably paying him his large draw during that time.

The bottom line is that the cumulative liability is not as big as many brokers
make it seem to be.

To put this into perspective, FINRA cases are not killing AEI. What is killing
AEI is that there are no deals.

— Many of the disputes are over the fact that few if any of the brokers got
paid their warrants on stocks they sold.

— Very few new deals are coming into AEI from the VCs in Silicon Valley. I
believe there was a recent capital call for Alien Technologies. Alien did raise
money in January 2010, but I don’t believe it came from AEI.

— Many of the top producers (salesmen) in the firm are gone and they were
great salesmen, I am told.

— When it comes to offices in operation, I can never get the story straight. I
have heard that London is shut down and that the three offices in the U.S.
(NYC, Chicago and San Francisco) still all have people, but have bled quite
heavily.

— AEI has fewer third party lawyers left that they are paying. Erhard R.
Chorle is gone from the AEI staff. I tried googling Erhard and got wrong phone
numbers plus there does not appear to be current contact info. for the guy. My
best guess is that working for Dwight and Keith, he was burned out and decided
to retire. Before AEI, Erhard was with Shefsky & Froelich which if I understand
correctly is the main outside law firm that AEI uses.

There are still four outside firms representing AEI: Jenner & Block
www.jenner.com/, Arnstein & Lehr legalnews.arnstein.com/, Schiff
Hardin, LP www.schiffhardin.com/ and Schefsky & Froelich,
www.shefskylaw.com/ .

— One FINRA case going on right now involves a broker in California named
John Eugster, whose case comes up in about a month for $8MM. Eugster is now at
H. Roark Securities in Reno, Nevada.
www.jigsaw.com/scid23941900/john_eugster.xhtml

My most current information is that this case is essentially in the can, as
they say, meaning that the evidence is in now and it is nearing a decision. But
my sources say that the judgement will be nowhere near $8MM. Eugster was a big
producer in the San Francisco office of AEI.

Just google it. May 31, 2009 … 06-01261, John Eugster FINRA ARB. NO. 09-00437

++++++++++++++++++++++++++++
healthosp.com/archive/jalna35120967o3a/archives282751

Claims of Wrongdoing Continue Against Advanced Equities Financial Corporation
and First Allied Securities

The Mirch Law Firm announced today that it had filed 2 Securities Fraud Whistle
Blower Law Suits naming Advanced Equities Financial Corporation, First Allied
Securities, Adam Antoniades, Keith G. Daubenspeck, Dwight O. Badger, and Joel
Marks. The first case was filed with the Financial Industry Regulatory
Authority (“FINRA) on behalf of Keith Gregg, the former President and CEO for
First Allied Securities. Gregg v. Advanced Equities Financial Corp., et. al,
case number 08-04999. Dave Carle, another previously high ranking employee has
also filed suit with FINRA (Carle v. Advanced Equities Financial Corp., et. al.
case number 08-04999). The complaints allege securities fraud including, but
not limited to, paying kickbacks to brokers who sold proprietary products that
were egregiously marked up and overpriced in order to generate fraudulent
profits.

The San Diego law firm filed the law suits in order to recover millions of
dollars invested in public and private funds. The Complaints allege that
immediate administrative review is necessary to protect investors from being
defrauded and future losses. Cited in the suits are several brokers, including
but not limited to Radio Pitchman and Ray “Buckets of Money” Lucia, alleged to
have knowingly received kickbacks from the President of Advanced Equities, Adam
Antoniades

The Mirch Law Firm has been contacted by other potential victims after learning
of similar actions being filed, pending lawsuits, and awards recently paid out
and related to Advanced Equities and First Allied Securities (e.g., Timothy
Sullivan ($750,000.00 FINRA ARB. NO. 07-01972; Denise Kappel, FINRA Arb. No.
06-01261, John Eugster FINRA ARB. NO. 09-00437). Mr. Eugster’s Claim for
$8,000,000 alleges that when he and his former Partner, Olympian Mark Spitz,
were employed at Wachovia Securities they were fraudulently induced to join
Advanced Equities and were subjected to fraudulent wrongdoing, as well as
unethical, and illegal boiler room tactics.
….

Author Information

MARIE MIRCH
MIrch Law Firm

Posted on Monday, May 31st, 2010
+++++++++++++++++++++++++++

May again. I should note that this is advertising material for Kevin and Marie
Mirch www.mirchlaw.com/ and it is really about two years old. I’ve done
some old fashioned reporting — man, just think what would have happened if I
had done this sort of thing years ago, I could have avoided several lawsuits –
and have confirmed with the Nevada Bar Association that Kevin Mirch was
disbarred in Nevada. He can still practice in California. The Nevada Bar
Association is mailing (the snail kind) me the reasons for the disbarment.

The Carle case has not been pending for over a year and in the Gregg case
Advanced Equities, Inc. is peripheral to any issues that remain to be decided.

I decided to leave out the reference to the Forbes article in the Mirch ad, not
because it was a bad article — quite the opposite — but it is two years old
and not particularly relevant to the current cases pending.

Many of the local lawyers like Nick Iavarone, Howard Prossnitz and Bill Anthony
who sued Advanced Equities a number of times, have decided that it is not worth
the time and effort — really for two reasons. First, AEI fights every suit to
the hilt and also by the time these cases are decided and they do tend to drag
on, it is not a very good return on their time. Second, after the off sets are
taken into account, the judgments are not all that big. Would you want to work
your tail off for two years for a third of $200K?

— The next shoe to drop may extend to board members like Lon Chow of APEX who
have put money in (I heard $40MM in Lon Chow’s case) and who have fiduciary
responsibilities as board members.

— I am told that suits are actively being planned against all the board
members. The question is how the board let things get to this point, and we
could ask the same question about the ITA board, the CEC board, the ITDA board:

+++++++++++++++++++
advancedequities.com/board.php

* Keith Daubenspeck Chairman and Co-founder

Keith G. Daubenspeck, Chairman and Co-Founder, is a 22-year veteran of
the securities industry. Recently named to Forbes magazine’s Midas 100 List, a
prestigious list of the world’s best global deal makers in technology and life
sciences, Mr. Daubenspeck serves as the head of the firm’s venture capital
investment banking activities.

* Dwight Badger CEO and Co-founder

Mr. Badger, Co-Founder and Chief Executive Officer, has served as a
director of Advanced Equities, Inc. since he and Mr. Daubenspeck co-founded the
company in 1999. Mr. Badger is also a General Partner of Innovative Technology
Partners, a late-stage venture capital fund based in Chicago, Illinois.

* Lon Chow Outside Director

Mr. Chow is a general partner with Apex Venture Partners, a venture
capital firm, and has been a member of that firm since 1997. Prior to Apex, Mr.
Chow was a management consultant with Mercer Management Consulting and he held
various operating management roles at Pacific Telesis.

* Robert E. Dods Outside Director

Mr. Dods is the co-founder of RC2 Corp., formerly known as Racing
Champions, Inc (NASDAQ: RCRC). He served as CEO and Chairman from 1989-2003 and
has served as Chairman of the Board since his retirement from RC2 in 2003. Mr.
Dods is currently an operating partner and investor in Baird Capital Partners
(BCP), a private equity partnership. He has been instrumental in the
development of Baird Asia Limited, the operating company of BCP, which develops
Asian sourcing and distribution strategies for BCP’s portfolio companies.

* Robert Haveman Outside Director

Mr. Haveman is the President and Treasurer for EDP Management, a private
family office managing over $1 billion in assets. Mr. Haveman is the former
Treasurer of Prince Corp., an automotive parts manufacturer which was acquired
by Johnson Controls, Inc. in 1996 for approximately $1.3 billion.

* George Middlemas Outside Director

Mr. Middlemas is a general partner at Apex Venture Partners whose
investment activities focus on the telecommunications, software, and
information technology industries. George has been involved in the venture
capital industry since 1979.

* Ron Piasecki Outside Director

Mr. Piasecki is a director of Sun Communities, Inc. (NYSE: SUI). He was a
co-founder of Aspen Enterprises, Ltd., which was acquired by SUI in 1996. Aspen
was one of the largest privately-held developers and owners of manufactured
housing communities in the U.S. Mr. Piasecki also served as Chairman of the
Board of Directors of Kurdziel Industries, Inc., the world’s largest producer
of counterweights for the material handling industry, from 1992 to 2002.

* Jon Vosicky Outside Director

Mr. Vosicky is Chief Financial Officer of BFG Technologies, Inc., a
marketer and distributor of graphic cards. Mr. Vosicky is also President of JAG
Financial, Inc. From November, 1985 to July, 2001, Mr. Vosicky was Executive
Vice President and Chief Financial Officer of Comdisco Inc.
++++++++++++++++++++++++++++++++

— As late as 2007, AEI was still a juggernaut with $1.5B raised, I have heard.

— One of the big questions yet to be answered is: “Where did the money from
the warrants go?” Who collected that money and how much was it?

— As one person put it, “If you stick your head in the sand, you will end up
sticking your wallet in the sand.”

AEI invested in and raised money for everything from gas stations to tech
firms. Some believe that now Advanced Equities may be taken apart brick by
brick, but most observers believe it will survive. It is now an ordinary
brokerage firm making its money the old slow way.

— Meanwhile Dwight and Keith continue to be oblivious to all around them, and
still insist on living larger than life.

Badger recently bought the home of Ben Wallace, the Chicago Bulls player, on
April 12, 2010 for $2,057,500 in Lake Forest, IL.

In fact, Wallace lost $1MM on the sale of the house to Badger.
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www.chicagobreakingbusiness.com/2010/04/former-bull-ben-wallace-loses-1m-
on-lake-forest-home.html

Former Bull loses $1M on Lake Forest home
Published on April 1, 2010 8:26 PM | Submit a comment
ELITE STREET | By Bob Goldsborough | Former Chicago Bulls forward-center Ben
Wallace, now with the Detroit Pistons, has taken a significant loss on his
6,983-square-foot, traditional-style mansion on 1.74 gated acres in Lake
Forest, selling it on Thursday for $2.0575 million.

With the Bulls from 2006 until a 2008 trade to the Cleveland Cavaliers,
Wallace, 35, lost almost $1 million on the five-bedroom home, which he
purchased in late 2006 for exactly $3 million.
Wallace first listed the mansion for $3.295 million in January 2009, later
cutting his asking price to $2.994 million, then to $2.49 million and finally
to $2.39 million before accepting a sale offer.

Built in 2005, the 14-room, stone and slate mansion has five full baths, three
partial baths, a cherry library, a custom staircase, a gourmet kitchen with a
butler’s pantry, a four-car heated garage and no fewer than eight fireplaces.
The house also has a finished lower level with a rec room, wine cellar,
billiard room and bar room.

The name of the buyer of the mansion has not yet appeared in public records.
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Stay tuned for more developments.
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END OF REPORT