If you saw information valuing the Seasoil at different prices, there may have been fabrications. The values I saw were direct from the professional independent analyst who did the study and fixed the price @ $450.00 per ton in raw form, prior to being cut for commercial use, which greatly enhances the value. Your understandings did not come from any knowledgeable source as we have conducted in depth investigation into this matter and there is no question of ownership or value. The original owner will play a definite role in the final disposition of this matter. As to CSMA, they had every document, as did their auditors, which is how the Seasoil was added to the amended audited statement for CSMA, at the time it was presented at the annual shareholders meeting by management. The deal was approved by the shareholders at that time. Management and its Auditors asked for and received all of the documentation between September 15, 1997 and November 11, 1997 at which time management and the Auditors accepted all of the documentation and presented the transaction for shareholder approval on December, 1, 1997. On November 11, 1997 CSMA signed an additional agreement in furtherance of the September 15, 1997 agreement, only after having received and accepting all documentation required to their satisfaction. CSMA made the deal for the right reasons, they just forgot what they were and never followed through. Laying the LPS facts aside, the HK Boner investors invested hard cash along with a considerable amount of heart and soul. Additionally HK Boner et al arranged for the cash to finance the LPS operation of which an approximate 40% was diverted to other use by ? You probably guessed! Right? Greg if you take the initiative to learn the facts, rather than some skewed version of them, you'll find the HK Boner people are real people and very good people as I'm sure you are. We know what being hoodwinked is all about, and we're not going to allow it.
Kind regards
HK Boner |
