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Gold/Mining/Energy : GMD RESOURCE
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To: Richnorth who wrote (968)8/11/1999 12:30:00 AM
From: VAUGHN  Read Replies (1) of 1030
 
Hello Richnorth

You sound very mellow today.

Going easy on DF is one thing, but jeopardizing the company's health by not collecting overdue debts is something else. GMD has been fleeced once, if mgt. is "taking it easy" to the degree that debts are at the risk of not being repaid, it is complicent in aiding and abetting DF in a second fleecing of shareholder's equity.

That is not acceptable no matter how it is painted. If the man's entire worldly goods have to be seized, that is of little consequence to shareholders whose investment has been squandered (stolen). GMD already agreed to +/-$0.25 on the $1.00 now must it quietly accept $0.03.

If this is indeed what is happening, it stinks, and shareholders should be outraged.

Is a class action suite by common shareholders necessary to get mgt. to act in shareholders best interests rather than maintaining their old business relationships?

To whom is mgt. responsible?

Perhaps David should ask mgt. to provide:

1. An accounting of debt recovery?
2. Balance outstanding?
3. Loan status, overdue and by how much?
4. Recover plan and pursuit of criminal charges?

Shareholders deserve to know where things stand…

Bottom line, did mgt. just give away the majority of the Royce Claims for lack of $$ to explore them further? Was it because DF had not repaid his debts and mgt. had not pursued the recovery of those debts?

Regards
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