Novus Energy Inc NOVUF

FYI

[GLENN#]

It looks like the company is in violation of the Canadian Corperations Act; Part XII section 133-1-b. 

I think we can all agree that we want a sale of the company but at this point I want answers.  If a sale is not possible lets forget it and get on building the company and try to increase the share price.

Still not answer from Alberta or Saskatchewan Securies Commissions yet.

From the Canadian Corperations Act - Part XII section 133-1 reads  --  The directors of a corporation shall call an annual meeting of shareholders (a) not later than eighteen months after the corporation comes into existence; and (b) subsequently, not later than fifteen months after holding the last preceding annual meeting but no later than six months after the end of the corporation’s preceding financial year.

[Pokerchamp]

There is an exemption to the meeting dates if the company applies to a court to extend.  Do we know or would we know if they've applied to extend? (2) Notwithstanding subsection (1), the corporation may apply to the Court for an order extending the time in which the first or the next annual meeting of the corporation shall be held.

[GLENN#]

Agree but the company has not mentioned anything to me in any e-mail and that is only an extention.  All I have ever got from them is, 'no AGM scheduled'. I have sent them another e-mail requesting information on the AGM. I want answers from the company.  If this means getting the Securities Commissions involved, I will.

[Pokerchamp]

The financials are out and the sales process continues.  That we know. What else are you looking for that they are in a position to tell you?

[GLENN#]

With the sale, what has been happening.  Is the timing wrong to get what they are asking for?  Time line for ending the sale and get back to business of building the company and share holder value. The market does not like the lack of information and the uncertainty created by the company.  Hence the price drop to this extreme.  You can say it is the market as a whole is down,

[Pokerchamp]

You never get details of negotiations before they're concluded one way or the other.  As to what's happening. The firm(s) hired to conclude a sale meet with one side then they meet with the other side and so on till the reach a deal or they terminate discussions.  Clearly discussions have not ended or the company would have announced the end as they said they would. Do you

[GLENN#]

Also, IMO this show the contempt the management of the company has for it's shareholders by not holding an AGM.  The shareholders have the right to have our opinions heard.  Plus it is the law.  Is our glorious leader a dictator?

[Pokerchamp]

I still don't think you get it.  If they had a meeting before the sales process ended they'd go over the  financials and then say that they can't answer any questins realting to the sale.   As expected the BOD would be re-elected and the meeting would come to a quick end without any of us learning much new. Wait for the sale and then vote to approve or not the sale

[GLENN#]

Speaking to some share holders they will be voting against the BOD like me.  So you can't say with there preformance they will be re-elected. Just got off the phone with the Saskatchewan Securities Commission.  As for the Corperations Act there is arguements on both sides wheather Provincial or Federal apply but under the law they have to have a AGM by the end of August.  I

[Pokerchamp]

I'm pretty sure that the valuation and all other releant inforamatin will come out when they announce the outcome of the sale and then we  can make our decision. 

[luckythor]

Personally, I believe that both, glenn and Poker have good points, but I think that everyone has been extremly patient on both management and shareholders side. Something has to happen in the next 2 weeks......AGM scheduled or news release. If nothing happens, I for one,  who has been a backer of mgmt. will be leaning to the opposite side to "get" answers and will be giving my

[sherbrooke1]

This post has been removed in accordance with Community Policy

[GLENN#]

Asnet - Thanks for that. Again I don't believe we need a second meeting to approve a sale; just a vote.  Plus there is no evidence for the assumptions of being in 'negociations'.  I'm saying they are or aren't; we are not told anything. Anyone know were we can find what the BOD have in options and warrants and at what cost?  How much do the BOD stand to make

[sherbrooke1]

This post has been removed in accordance with Community Policy

[GLENN#]

I am well aware of the work involved and that generally the boring as .......  That's not the point.  Then why aren't they saying that, 'they are holding off on the meeting hoping for further news'?  What are they hiding with this 'code fo silence'?  Clearly I'm not the only one that is frustrated with what is going; teh market is abandoning them or