Many Bright Ideas Technologies Inc V.MBI.H

RE:Vote Jones

[mhillman]

MBI believed that the legal claims made by Mr. Weir-Jones and others had no merit whatsoever and was compelled to defend the interests of all shareholders by opposing the lawsuit. The actions of Mr. Weir-Jones and others required MBI to expend significant time and money (over $125,000). Only hours before the scheduled court appearance to decide the matter, when all the preparatory work was already completed and almost all of the legal fees were already incurred, Mr. Weir-Jones and others finally discontinued the lawsuit.

Mr. Weir-Jones' actions showed a lack of respect for the shareholders of MBI, for basic corporate governance procedures and for MBI's limited funds.