EXCERPT: The United States District Court for the Southern district of Florida (the "Court") has ordered that notice be given of the proposed settlement, motion for attorneys fees and settlement fairness hearing in the class action entitled In re VoiceFlash Networks, Inc. Securities Litigation, 03-80099-Civ-Marra/Seltzer, to all persons who purchased shares of the common stock of VoiceFlash Networks, Inc. ("VoiceFlash") during the period from March 15, 2002 to January 24, 2003, both dates inclusive, (the "Settlement Class," the "Class Period").

Excluded from the Settlement Class are Defendants, members of the immediate family of the Individual Defendant, any entity in which any Defendant has or had a controlling interest, and the legal representatives, heirs, successors, or assigns of any Defendant.

A hearing has been scheduled before this Court on March 29, 2007 for the purpose of determining: (1) whether the Class should be finally certified as satisfying the applicable prerequisites for class action treatment under Fed. R. Civ. P. 23(a) and (b); (2) whether the proposed settlement of the above Action for the principal amount of $600,000, plus accrued interest should be approved by the Court as fair, reasonable and adequate; (3) whether a Final Judgment approving the Settlement and dismissing this litigation on the merits and with prejudice should be entered; and (4) whether an application of Class counsel for the payment of Attorneys' Fees and Expenses are reasonable and should be approved.

1. United Capturdyne Technologies, Inc. ("Debtor") was a privately held company having been founded sometime in 1990.

2. On or about October 19, 2001, Debtor was sold to Voiceflash
Networks, Inc., ("VFNX") a publicly traded company. Debtor subsequently
became a wholly owned subsidiary of VFNX. VFNX retained Maxwell J. Korbin
II, ("Korbin") who assumed the role as CEO of the Debtor, although acting in
a limited capacity.

3. According to civil complaints filed by Korbin and/or Class Action(s) Complaints filed by shareholders of VFNX, on or about November 23,
2002 certain officers of Debtor approached the United States Securities and
Exchange Commission alleging numerous SEC violations, inter alia SEC fraud
by VFNX's: (i) Chief Executive Officer, Robert, J. Kaufman, deceased, (ii)
Chief Financial Officer, Thomas C. Teper, (iii) certain other directors of
VFNX's board of directors, and (iv) VFNX's counsel, to wit: Hunton &
Williams, LLP [Ferndo Alonso and David Wells].

4. The complaints allege among other things: libel, and SEC fraud.
The complaints further allege that the VFNX's "Kaufman friendly" majority
board along with VFNX's counsel at Hunton & Williams determined that VFNX's best course of action was an immediate liquidation.

5. It was further alleged that during the GAP period the petitioning
companies, which included VFNX, the parent, as well as Value Stream Systems, Inc., and Debtor, (both wholly owned subsidiaries) attempted to hide the potential improprieties by liquidating all three entities. In fact, during
the GAP period, Thomas Lehman, Esq., attorney for VFNX made, the statement that he was told to "liquidate this one fast."

6. Without any consent by VFNX's shareholders, as required by
Florida Statute, the "Kaufman friendly board" improperly voted to liquidate
the parent and the two subsidiaries, which included the Debtor. It is
Claimant's shared belief that this was done to attempt to cover up any fraud
and in anticipation of litigation.

7. In fact, in March, 2006, according to the Honorable Judge Kenneth
Marra's Order and Opinion, Judge Marra denies most of defendant's motion to dismiss the Second Amended Class Action Complaint. (Attached HERE in PDF Format - If you need to download an Adobe PDF Reader, click here).

8. It is Claimant's further belief that both the Class Action
Complaint as well as Korbin's Complaint against Thomas C. Teper, CFO of
VFNX, Fernando C. Alonso, Esq., Partner, Hunton & Williams, other counsel at Hunton & Willliams,LLP, and other board members have been settled.

9. In fact, the Trustee in this bankruptcy brought a cause of action
against Hunton & Williams, LLP as well as the estate of Robert J. Kaufman,
deceased, in this case. It is Claimant's further belief that the Trustee has
settled with these parties. * *

The Amended Complaint is HERE, In PDF Format.

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