Tuscany International Drilling Inc T.TID

ATTACK!

[onthecase]

I am pleased to announce the retention of our law firm: Landis, Rath & Cobb. Usually representing creditors, LR&C’s study of our case has persuaded them to jump the fence and represent shareholders in this instance. They agreed to do so only after research, which involved engaging an independent financial analyst. Not only did these independent results persuade them to take our case, but the financial analyst has been in touch, and would also like to help represent us in court. In fact, the financial analyst feels so confident about the situation that their firm is willing to represent us at no charge until an equity committee is appointed, at which point they will be engaged at the committee’s (company’s) expense. This says much about the strength of our case.

Analysts are paid by the committee. Fraud lawyers are paid a percentage of the cash settlement. Neither will cost us out of pocket. Bankruptcy lawyers work to form the equity committee, obviously before that committee is formed. As their labors will compensate us through a rise in share price rather than a cash award, there is no payout for a contingency fee to latch onto. For that reason, our legal counsel must be supported by a retainer. This was the case with all firms we interviewed, and is a product of this type of proceeding, not a discretionary matter on their part.

LR&C’s retainer of $15,000 was in-line with all other firms we interviewed. Unlike many other firms, they were able to provide a strict timeline and budget for the action. This was crucial: a short, well-defined action, not a lengthy, expensive proceeding.

Which brings us to the funding. Those of us who have been devoting our time and effort to make this happen have already followed up with our money. When approached, one of the institutional investors with whom we have been speaking stepped forward and pledged another $2,500. The fact that the Smart Money was so quick to step up also says much about our case.

And now we appeal to you. This fight is for all of us. Contribute what you can, as we have done, to reclaim what is rightfully yours. An IT professional has constructed a secure site for us, invitation-only and invisible from outside. In addition to security, it will allow us a far more efficient platform on which to share information, and to gather opinion from members. All who contribute to the fight will receive an invitation to participate in this platform.

How much to send is a personal decision. If you have a few shares, send what you can. If you have many shares by which to lose or gain, you may wish to contribute more. Go to https://www.indiegogo.com/projects/payment-for-lawyer-retention to make this happen. If you can, please use credit or debit; Paypal charges fees, eroding our efforts. Any surplus funds once our war is over will be reimbursed pro-rata based upon contributions, so please include your SH handle with your contribution. We stand ready to record this information; we remain happy to spend what time it takes to support this effort.

As of this posting, I see nearly $2,000 already in the account. We’re on our way. Fix bayonets, and ATTACK!

[ninetiesgolfer]

Good work, Onthecase, and thanks. I will be returning from. Mexico on Monday and will send my contribution when I have access to my computer. We will overcome. 

[etpa111]

How much to send: Just a suggestion, but if we allow $30,000 (x2 for a buffer) over approx 30M shares, this would be $0.001 per share held.

[justsomeguytrading]

Hey etpa111, we hope everyone with a share position will contribute as they can afford to.  Give what you can, no matter the amount. The priority is to secure the funds for hte attorney who will be assisting all of us. Everyone is out of pocket, and none of us have line of sight to anyone else's ability to afford additional resources to hire a lawyer.  IMHO it would be presumptious

[StompinTom]

If it helps, my stake was only worth $2,000 and I put in $100.  I know everyone's circumstances are different.  Much like the original investment in TID, just assume you won't see it again.  I am curious to see how this works out but it won't without a lawyer to stickhandle it for us.

[rivergreen]

My contribution has been sent which includes rivergreen jr. LET THE BATTLE BEGIN !!!!

[sherbrooke1]

This post has been removed in accordance with Community Policy

[Fullblast]

Onthecase wrote: I am pleased to announce the retention of our law firm: Landis, Rath & Cobb. Usually representing creditors, LR&C’s study of our case has persuaded them to jump the fence and represent shareholders in this instance. They agreed to do so only after research, which involved engaging an independent financial analyst. Not only did these independent results persuade them to