Mart Resources Inc MAUXF

Letter to the Board

[ortona]

Excellent letter I agree with all your comments. I know I will upset some of the people here but as far as I am concerned this entire so called arrangement should be nullified and a urgent conference call should be initiated one lasting as long as is necessary. One other tidbit I would like to point out is regarding FirstEnergy and their comments on Appendix E-1 where they state "We have not been engaged to prepare and have not prepared, a valuation of Mart or any of Mart's assets or liabilities and our Opinion should not be construed as such". So in essence are they not stating they have never provided a through independent evaluation and only provided a verbal opinion from whatever selected information Mart may or may not have provided. If this is the case and according to what FirstEnergy is saying it is, just how in the blazes could a proper evaluation of the company been compiled.

[QUANTUMJUMP]

What part of this do you not get  "The arrangement was approved by over 91 per cent of the votes cast at the meeting by Mart securityholders."   Reality is an offer of .25 has been accepted . Mid Western is depositing $1million into an acct as we type . That is $1 million ways of saying , yes we will close deal by the 24th  GLTA 

[dwtna1]

@Quantum,You do not have any actual evidence that SL has or is actually putting anything into escrow at this moment. If Dimitri is true to his word, we will not know until later today and only then if there is no NR, which IMO is a pretty p-poor way of keeping us shareholders informed.Keep your faith if you want to but I suggest that after the performance we have seen from the management and BoD

[QUANTUMJUMP]

No we know for 100% certain the money has been deposited by 5pm Calgary time tomorrow. It would be a material change and must be reported , on the flip side if he told me and not you it would be disclosing material info  - from SEDAR Miscellaneous (a) Midwestern covenants to pay to Mart (by wire transfer to Mart’s designated account), no later than 5:00 pm Calgary time on 

[mjh9413]

You'd acknowledge that I acknowledged the prevailing status if you read my words...but let me ask you, how many and what percent of total shareholders and security holders voted...if 50% of latter voted what exactly does 91% truly mean.  Yet another failure in our Regulations when it comes to takeovers..."66 2/3 of those present or proxies submitted," really!!!!!

[QUANTUMJUMP]

All shareholders who wanted their opinion heard voted You have been doing this far too long to think our opinions matter You trade the price action and that is all the control you get

[mjh9413]

You are of course right. Me, I mainly try to get the Regulators to make a difference but that is, as you intimate, like banging one's head against a wall...one day, maybe, but only if investors are prepared to toss off or get out of that cycle of activity you defined. Mart is dead..R.I.P.

[QUANTUMJUMP]

Do not take my post as offensive , I have taken losses over $100k based on blunt documented lies with another company  The regulators did respond they made the company retract their press releases and the IR guy who told me the contracts had been signed and they were establishing delivery dates was off scott free