Questions for Eric OwensFolks,
There was discussions about having a moderator collecting/screening the questions rather than people just posing the questions which may lead to redundant questions. However, both approaches seem to have some merits. But due to the time available from now until tomorrow, it would be impractical to have a moderator to sort things out. Some questions may be repetitive, but EO can certain sort that out himself when he sees a redundant issues that have been discussed. It should not be a big deal. All I would suggest is to keep emotion out of the question as much as we can. We just want the facts coming from EO.
As far as I am concerned, I have a few questions listed below. Since I don't have the format of the session, and also I don't know if I can sucessfully participate, I would not mind if someone just ask the questions on my behalf. Any volunteer, if you agree with my questions?
Q1, Support from AEM: Eric Owens has been telling people on the phone and in various meetings that he has the support of AEM and a few other major shareholders. Can Eric repeat that claim in this forum that he has the condidence and full support from AEM (8%OS).
How much support in total he has now from shareholders?
Q2, Dan Palikrousis (brother of Mary Vorvis, former VP of AZX): How much commission he would make from the ~$20M PP that was arranged without the approval of the current BoD. Is this entire financing arragement still in force, or has it fallen apart?
It has been reported that (by the current management) that $5M of the total package of $20 has been kept, in trust, by the personal laywer of Mr. Owens. What has happened to this sum of money? Ha it been returned to the potential investors?
Q3, The proposed slate of directors would include the 3 new nominees:
- Hopkins
- Mellon, and
- Sutherland
to replace Gundy, Henry and O'Connor
Owens, Geis, and Patil would stay on the list as nominees.
Can EO explain the Patil situation,... why was she included in the lawsuit against Gundy, Henry, O'Connor, and Patil?
Q4, Dilution through equity financing: According to current management the dilution could be in the order of 55%, compared to sale of non-core assets (as stated in the 6 June 2018 NR) which could fetch similar amount without any dilution. Please explain the advantage of your financing through equity?
As a reminders, AZX United has some 57M shares (almost 12%OS). It could be more it could be less, but it's a fair chunk. Some of us has a good holding (over 1Ms each) that why Eric has been calling some of us looking for support (somehow he has the shareholder's list).
GH