175 S. Main Street, 15th Floor Salt Lake City, UT 84111
June 11, 2010
VIA-EMAIL
Shareholders of Global 8 C/O Rene Branconier and Ferando Londe
Re: June 10"' Motion Requesting Clarification
Dear Shareholders:
Yesterday, June 10, 2010, we were before the Court seeking clarification of previous Orders. This was necessary to answer the comments we received from the SEC regarding our C14A filing, and to determine whether we had an obligation to mail a company-filed 14A if it did not comply with SEC requirements. So that we may specifically address the SEC's comments, the Court granted our request to draft an Order for the Judge's signature that will be tailored to the SEC's comments. Additionally, the Court held in our favor that we are not required to mail the Company's non-conforming filing.
Daniel Wolf was present, and, once again, the Court admonished him to retain independent legal counsel for Global 8. In addition to Mr. Wolf, the accountant, Richard Hawkins attended the hearing, as well. Hawkins did address the court, and both he and Daniel Wolf asked the Court to compel the Plaintiff Shareholders to pay for an audit proposed by them. The Court denied their request stating that an audit is a company expense and the shareholders are not responsible to pay.
At this point, both Wolf and Hawkins visibly lost their composure. It was apparent that they had convinced themselves that they were going to win on this issue. Hawkins was so flummoxed that he turned beet red, stood up and asked the Court if had to work for free. The bailiff stood up from his desk in the courtroom and began to approach Mr. Hawkins. The Court made it quite clear that Mr: Hawkins did not have to work for free, but if he was going to be paid, it was strictly the Company's obligation to pay him.
Mr. Wolf attempted to have Mr. Sullivan disqualified from running the Shareholder meeting, but the Court denied his request. Mr. Wolf attempted to delay the Shareholder Meeting until a shareholder audit and financial audits were performed (which would have probably been a six-month delay). His request was denied, and the Judge said the Shareholder Meeting would go forward as previously scheduled. At that point, we requested that the date for the shareholder meeting be extended from July 16 to August 6 to allow enough time to comply with SEC
requirements. The Court granted our request and accordingly set the new date for August 6, 2010.
This is all very good news for us. It is impossible to comprehend how Daniel Wolf could consider yesterday a victory, when, In fact, it was a clear defeat. The court granted us every request we made; that can only be construed as a Shareholder victory.
If you have any questions regarding these matters, do not hesitate to contact me directly.
Very truly yours,
VINCENT & REES
Charles T. Conrad
Attorney At Law