ANOTHER ARGUMENT SENT TO MINISTRE AND AMF
The declaration by the board/management was designed to trigger the acceleration That is the importance of the declaration (probably around the 15th or just before, by the board/management that declared PLI unable to make payments on the interest to SALP! Such a declaration would only have been made if they were already well under the influence of SALP and acting AGAINST THE INTEREST OF THE SHAREHOLDERS TO WHOM THEY OWED A FIDUCIARY DUTY AS THIS WOULD HAVE PROBABLY TRIGGERED SOME ACCELERATION CLAUSE FOR THE DEVIOUS USE THAT WAS PREVIOUSLY PLANNED FOR IT. ANY BOARD THAT WAS STILL TRULY WORKING FOR THE SHAREHOLDERS INTEREST, WOULD NOT HAVE MADE SUCH A DECLARATION PLAYING DIRECTLY INTO THE WAITING HANDS OF SALP, BUT WOULD RATHER HAVE INSTEAD MARCHED DIRECTLY TO A COURTHOUSE AND REQUESTED A REORGANIZATION JUDGE TAKE CONTROL OF THE SITUATION UNDER THE LAWS OF CANADA AND PRESERVED THE UNDERLYING ASSETS OF PLI FOR ITS SHAREHOLDERS AND NOT PLAYED DIRECTLY INTO THE HANDS OF SALP – THE CREDITOR – ENABLING THE ACCELERATION AND THEN VOUCHING FOR A HARDSHIP CASE WHERE NONE EXISTED TO DENY THE SHAREHOLDERS THEIR RIGHT TO A VOTE AND VALUATION – NOT A TOKEN 1.5 CENTS 91% BELOW A HIGHLY AND ARTIFICIALLY DEPRESSED MARKET PRICE!!! THE WHOLE PROCESS DOES NOT PASS THE SMELL TEST!
ONE MORE POINT, IS THAT THE AMOUNT THEY ARTIFICIALLY HIKED THE LOAN AMOUNT WAS TO $239 MIL NOT JUST $229 MIL AS THAT AMOUNT STILL LEFT $10 MIL STILL OUTSTANDING ACCORDING TO SALP;s SELF SERVING CALCULATIONS.
WHAT IS CLEAR IS THAT THE BOARD AND MANAGEMENT WERE WORKING FOR SALP, NOT THE SHAREHOLDERS INTEREST. THEY WERE WILLING STOOGES TO HAND OVER ALL THE LOCKED UP UNDERLYING HUGE VALUE OF PLI TO SALP, RATHER THAN PROTECTING IT AND UNLOCKING IT UNDER A FAIR AND NEUTRAL JUDGE UNDER REORGANIZATION SO THE SHAREHOLDERS COULD RETAIN THE RESIDUAL VALUE AFTER PAYMENT OF THE LOAN ($120 MIL) FOR THE RIGHTFUL OWNERS. - THE SHAREHOLDERS.
FURTHERMORE, THE BOARD WENT ALONG WITH THE OUTRAGEOUS PRICE - 91% BELOW THE VERY ALREADY VERY ARTIFICIALLY DEPRESSED MARKET PRICE). THEY DID NOT PROTEST THAT THIS WAS NOT FAIR TO INVESTORS AND A SHAM. THEY MEEKLY WENT ALONG WITH SALP AND RUBBER STAMPED THE BOUGHT AND PAID FOR INVESTMENT OPINIONS FROM ECHELON (as memory serves) AND THE LIKE. THEY PROTECTED THEIR JOBS AND SELF INTEREST AT THE COST OF THEIR FIDUCIARY DUTY TO SHAREHOLDERS TO KEEP THEIR PERKS, JOBS AND FUTURE OPTIONS AND BONUSES UNDER THE FUTURE SALP CONTROL OF PLI! ANY PRONOUNCEMENTS OF THIS BOARD AND MANAGEMENT CAN NOT BE TAKEN AS REPRESENTING PLI BUT ONLY THAT OF SALP (CONTRARY TO THEIR FIDUCIARY DUTY) IN FURTHERANCE OF THEIR FRAUDULENT INTENT TO STEAL THIS COMPANY WITHOUT A SHAREHOLDER VOTE OR VALUATION MANDATED BY LAW.
THE HARDSHIP APPLICATION BASED ON THE ASSERTION OF FALSE FACTS WAS THE WORST MANIFESTATION OF THIS DECEITFUL ACTION BY THE BOARD AND MANAGEMENT, WITHOUT WHICH IT WOULD HAVE BEEN IMMPOSSIBLE TO GRANT THE HARDSHIP APPLICATION, TO DENY THE VOTE AND VALUATION AND WITHOUT WHICH THE WHOLE PLOT TO TAKE OVER THE COMPANY FOR A MERE $120 WOULD HAVE FAILED AND FALLEN LIKE A HOUSE OF CARDS.
I have been looking for the details of how they accelerated the interest and whatever those terms were so far as I know they were never disclosed to public (investor) scrutiny. No press release contained these vicious details were the work of the devil. That would have made clear, how serious they were intent on setting there hooks into the company and were not benign actors in support of PLI just in support of their greed SO FAR AS I CAN SEE THIS WAS WELL HIDDEN FROM PUBLIC AND INVESTOR SCRUTINY UNTIL THE LAST DAYS WHEN IT WAS SPRUNG ON US ALL IN FURTHERANCE OF THE HIGHLY FRAUDULENT TAKE OVER.
THE AMF MUST OVERTURN THIS HUGE INJUSTICE AND NOT LET THIS TRAVESTY TO STAND AND MAKE IT CLEAR THAT REGULATION OF THE PUBLIC MARKETS IS OF HIGH CONCERN UPON WHICH THE CREDIBILTY OF THE MARKETS DEPENDS AND THAT THE GREED OF THE FEW AND WEALTHY WILL NOT BE ALLOWED TO RUN RAMPANT TO HARM INVESTORS DEPENDING ON THE HONESTY OF THESE PUBLIC MARKET PLACES.
I strongly urge the AMF to immediately roll back and annul the billions of shares that SALP had PLI issue to SALP and delay any rights offering PENDING THE DECISION OF THE AMF ON THIS HUGE FRAUD AND DENIAL OF VOTE AND HUGELY INFLATED LOAN AMOUNT TO $229 MIL + $10 MIL, WHERE ONLY ABOUT $120 WERE ACTAULLY LENT. There will be time enough to issue those shares if the AMF should uphold SALP AFTER the AMF has decided on the matter, precisely to avoid any major entanglements that could become a little harder to undo later on. I FURTHER URGE THE AMF TO PLACE THE ENTIRE COMPANY UNDER THE WATCHFUL, FAIR AND NEUTRAL EYE OF A REORGANIZATION JUDGE UNDER THER THE LAWS OF CANADA TO INSURE A JUST RESULT AND A MAXIMAIZATION OF THE RESIDUAL ASSET VALUE AFTER DEBT IS PAID TO ITS RIGHTFUL SHAREHOLDERS.
Sincerly,
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Tel: 514 ............
PLI investor.!