What the Receiver MeansFierce owns 40 million shares of Aztec. This is what the Arizona lawsuit was about. Aztec tried to dispute it but failed. The judge made the decision that Fierce is a shareholder.
I bevieve there are about 43 or 45 million shares outstanding. So Fierce is the majority shareholder. Fierce has been trying to hold a shareholder meeting in Arizona but individuals behind Aztec (Ron Arnold and Christine Reeves) have been trying desperately to avoid that because when Fierce shows up with 40 million shares, they get voted out and lose control over Aztec Copper.
The Arizona court just appointed a receiver on Friday because Ron Arnold and Chrsitine Reeves refused to hold the meeting like the judge ordered them to. The judge is going to force the meeting through a receiver. The receiver will hold the meeting and Arnold and Reeves cannot do anything about it.
At that point, Fierce will take control over Aztec Copper and the legal game is over. I suggest you read my prior article for more details and just know that the receiver has now been appointed.
https://classicvalueinvestors.com/2019/04/11/aztec-copper-funeral/