Karnalyte Resources Inc T.KRN

For centuries a proven strategy has been successful in war

[mdjbrown]

Divide and conquer is exactly what is happening as the corporation is suing shareholders, shareholders are suing the corporation, and shareholders are suing shareholders all while GSFC sits back, and watches the strategic chaos continue to erode our company until they are the last man standing.
 
According to the latest financials, Krn is spending $50 K a month on legal and another $50 K on insurance deductibles per director / per lawsuit, which is $50K a month to much considering the remaining balance of the treasury. 
 
As current lawsuits get to the later stages, a lot more information will be revealed, which in turn could potentially spawn additional lawsuits against the corporation, so the solution appears simple to me.
 
If management is truly serious about drastically reducing corporate costs in the best interests of all shareholders, here’s a thought.
 
Ms. Favreau, Mr. Wheatley, Mr. Rowan, Mr. Matson, Mr. Szabo, Mr. Zachanowich, Mr. Phinney, and myself meet at a neutral venue for an off the record discussion with no lawyers present with the exception of Mr. Wheatley, and possibly the newest director with a legal background

There are hurt feelings from past events, but from my understanding there is nothing within any of these lawsuits that common ground can not be found in the best interests of all Karnalyte shareholders.
 
But one thing is very evident, if this huge divide amongst the largest shareholders of this corporation continues, status quo will eventually sink shareholders hopes, and that will be an absolute shame when an amicable resolution appears so attainable.
 
There is no reason 8 adults cannot meet to figure out a better less expensive way to move forward, than what is currently unfolding in front of all the corporation’s shareholders.
 
If its something shareholders would support, call Karnalyte and demand it.  After all you are part owners of the company!
 
If this is something that the corporation is unable to agree to, maybe the remaining parties involved can find common ground to stop the madness!
 
Imagine a time without expensive lawsuits plaquing Karnalyte Resources, and majority shareholders supporting a common goal to preserve our companies survival……………….. 
 
What a concept!

[businessense]

Cease and desist with the frivolity. Accept that the only deal possible is with a strategic partner and that noting can happen without GSFC. That is the only option. Even then, if nothing materializes, where will the money come from?  Issue more shares or go bankrupt! Anything else may be wishful thinking.  After 10 years of wasted funds and being unable to do anything should be

[patospower]

Why hello there mr GSFC. As you don't seem to know, your company is too broke to finance anything. As a strategic partner you bring exactly nothing. Your "expertise" is complete smoke as you have proven over and over. At this point you are no more no less than a simple shareholder, only you own enough share to be a major thorn in our side, despite your misplaced belief that you are

[businessense]

Interesting comment considering the initial deal with KRN was for them to raise funding. Never happened as the market and valuation kept going south amid a lot of internal disfunction. Whether they can even salvage the company given the fall in the market and multiple blunders of past KRN's mismanagment and ongoing litigation will be this companies own undoing.

[mdjbrown]

biz, if memory serves correct, from 2007 leading into 2013, milestone after after milestone were being accomplished by the then management team to the point that a construction ready moniker was being refered to describe the Wynyard Potash Project status. The only hold back at that time was the natural gas trunk line being brought east which was going to cost $65 million, if I remember right

[businessense]

Even with the milestones, the blunders began before GSFC and nothing you have just said solves anything.

[mdjbrown]

Biz, prior to 2013 it was upward and onward for this company as milestone after milestone were accomplished. There can be no denying it and every company has internal squabbles but the milestones being met were as promised. From 2013 to current, you can count the milestones acheived on one hand in the past 8 years, and the very reason so much frustration exists You jumped all over me several

[businessense]

You keep ignoring so many of the facts and blunders created starting before. GSFC invested with an offtake agreement. KRN was to raise the balance. Market dropped and never happened.  The famous deal for financing fell trough given the market dropping some more and possible shenanigans. A lot of people on staff with Phinney hoping to build when market conditions where not there. Then you

[mdjbrown]

biz, I get it.  There is no love lost and you have blamed Mr. Phinney for all the downfalls of the company for years. Problem with that line of thinking is he was only within the company walls for 3 of the last 8 years, so your finger pointing holds zero credibility. The other 5 years have been a money burning mess It is argued GSFC has controlled the board and treasury since 2013, so again

[patospower]

businesssense is a GSFC shill, best to ignore him.

[businessense]

Dan, that is not entirely correct.  They were errors then and throughout is the point I have raised. Then you have a lot of litigations and finger pointing that continues that does not resolve anything. I have yet to hear of a tangible solution in a weak market considering how complex this  transaction is. Yes I see it diferently and anything that goes nowhere is a waste of time

[mdjbrown]

Fair enough biz but unfortunately things have gone so sideways, I doubt the majority of Krn shareholders would agree on very much these days let alone somehow arrive at any amicable solution. This company has been pulled in so many directions in the past 8 years, it will still take some time for the merry go round to stop, but the biggest question is what will be left of the treasury to start

[businessense]

Thank you for pointing me in the right directions. Not going to read everything other that there is a lot varying facts and disagreements reflected.   There is also a lot of history with many simple facts. Not sure I am going to repeat them all or question all of Mr. Wheatly’s claims.   Without stipulating actual timelines, a lot of critical objectives were never meet by KRN.