attention all common shareholders
1. Is there a legal way to take control of these meetings and take over control of the company and take it away from the Board and management if we can prove that there is a breach of fiduciary duty?
The way to take over is to gather 5% of the outstanding commons shares in a bloc vote, send a notice to the current board that you wish to call a special meeting to vote on a new board of directors. There are some timing issues. At that special meeting, all shareholders can vote and if you get 50% of the cast votes on each director then you have a new board.
I have talked to a Quebec lawyer in the past. I can make contact but I think he will want some cash up front. They were ready to take on the Tellier's, a bit like taking on the Bushes or Kennedy's.
It depends on how best to approach this. I see that YLO is open to proposals and has to hear any legitimate one according to the documents. I think there are enough ideas here and we might even get the banks on side if approached properly.
alright, 5% is all we need.. that's like 30M commons.
globalspeculation at gmail.com