Post by
renoit7 on Jul 12, 2013 2:58pm
Wow is he desperate
He proposes a 30:1 share rollback because he says there are too many shares outstanding and that's what is hurting this so called 'strategic inniative', he can't get that passed because everyone knows he is just doing it to raise more money continue lining his pockets, so he turns around and wants to issue 50 million additional shares? Which he is willing to sell at one cent, really a vote of confidence from the CEO.
If he had any sort of deal even remotely close he would not be proposing issuing an additional 50 million shares. It's obvious that the company is completely broke and doesn't have the money to begin making the principal payments on the loan that start this month.
He hasn't pushed the meeting back because of the flood or because he's got some sort of transacation he wants voted on at the meeting. It's because he knows there's a very good chance the board will be replaced at the AGM and then he will be out of a job. It's getting to the point where I don't even care about getting my investment back as long as this crook gets what is coming to him.
I urge everyone to call the company and ask for an explanation on what the $500,000 would be used for and how that money will be better spent than the 30 million Sean has already wasted.