My old friend Dick,
I'll be out of town for a few days and wanted to make a comment or two regarding the above letter form Verdad.
Firstly, I'll give you all the credit you deserve if your intent is truthful as your name implies.
The Shareholders Committee executed an offer to Sid wherein he could keep his 30,000,000 shares and that wasn't good enough.
We want a simple consolidation and for those readers that haven't been introduced to the Trinity drama, it goes like this. Investors were duped into investing in TRGC for a new and exciting Colombian oil and gas development.
Then the SEC got wind that something was wrong, and then we found out that the CEO had put most of the assets including the Colombian land leases in an offshore holding company.
The rest is old hat, but it's time to consolidate but Sid Seres isn't willing to do what's right.
His counter is that we would be given the first two wells and the right to joint venture with Seres in any subsequent wells. I've an opinion that it's just cheating and a real good one at that.
Sid needs us so he can sell his shares off. Let's see now, thirty million x $1.00, well that looks like a lot of money! How much money does a person need, especially off the backs of people that trusted him?
When Sid went public, he gave up everything the company owned, but he still treated the company as if it was his. He never let go and that's where I believe he skipped a beat.
I truly hope you can save TRGC. The legal entanglement is a least a super bad whiteout nightmare.
Give back what is the shareholders and do what's righteous. |
