Karnalyte Resources Inc T.KRN

Keeping it real will be the test to gain shareholder support

[mdjbrown]

I hope Karnalyte just keeps it real, as this statement by the company comes across as disingenuous and almost arogant - 

  “To make matters worse, the Dissidents submitted their requisition very shortly after the current Directors were elected, with over 80% support of the votes cast.”
 

When considering:
 
In the 2020 election Vishvesh D. Nanavaty received 17,327,984 shares in favor of which GSFC holds 16,334,558 of those shares voted.
 
Of the remaining Karnalyte Resources shareholders that voted, 4,207,215 shares were voted withhold or against the GSFC rep as only 52% of the corporation’s total outstanding shares were voted
 
If you subtract the 16.3 million shares voted for the GSFC rep by GSFC, 4 times more shareholders actually voted against the GSFC rep, but thanks to the good ole Rights Offering it is easily made to appear 80% of the corporations shareholders voted in their favor, when in fact the vast majority of shareholders not named GSFC voted against

[HermanMonster]

Kind of feels like oppression, am I going to get my proxy to vote in time? Did management leave it till the last possible moment on purpose?  I am sure GFSC will have their proxy so they can vote for management and keep on oppressing shareholders, and all us small shareholders are at a disadvantage. Surely the interm CEO could have had this out two weeks ago. Is it incompetance or is it the

[mdjbrown]

HM, unfortunately since 2014 this has been an annual issue, but up until 2018, shareholders were able to rally together and change the script.  The infamous Rights Offering put an end to that Of the 42,174,847 shares outstanding, approx 80% of all Karnalyte shares would need to be voted to challenge GSFCs control over the corporation.