Sungold Gaming International (SGGNF) Message Board

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Non-Tech : Sungold Gaming International (SGGNF)

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To: WINNMAN who wrote (1035)	8/14/1997 12:37:00 PM
From: WINNMAN	of 5164

An open letter to all Sungold International Investors. We are organizing a legal fund to get to the bottom of this matter and get the true out in the open. Once it is achieved, a course of action will be decided. In order to get this accomplished the following steps are being taken. 1.- A reputable lawyer will be contacted to provide legal advise and put on the table the potential recources available. Should it be required and so decided , the same lawyer will initiate what ever legal action is required. 2.- In the presence of the Lawyer, a commission of three representants on behalf of SUM investor will arrange a meeting with sum Management to get the facts. 3.- Same commission will try to arrange a meeting with VSE and /or members of the PLAC to discuss way to solve the impasse. 4.- The ground for this initiative are the following: And I quote the VSE(PLAC) release A.-"The company's business is not sufficiently advanced at this time and therefore it is not considered a suitable business" Response: If the business is not sufficiently advanced at this time , then, there have not been a "change of businnes" and the sponsor would not be required. Under same circumtances SGI was allowed to trade before and should be allowed to trade now. B.- "The company appears not to have a focussed business plan." Response: Neither have it before when it was trading. C.- The company appears to be insufficiently capitalized to executed the business plan. Response: It had been a known fact that SUM have been looking for a financier and Operator for the potential casino for quite some time. Furthermore, before it was allowed to trade under the very same circumtances. D.- The current Management of the company lacks directy industry experience: Response: Did they have more experience before that the VSE allowed it to trade. As well , it is known that SUM intended to handle the operation of the casinos to a financier and operator which will have, obviously, industry experience. E.- The company's management does not haver a record of success with public companies. Response: If a record of success is required to trade, they should not have been allowed to go public in the first place. We believe that since it is our money what is on the line it is the investor community the one that should pass judgement on the company and its management. The result of this judgement will be expressed at the opening by selling or buying the stock and deciding what price we are willing to sell or buy the stock, just like the thousand of companies that are trading today under same or worst conditions. We believe that the field in which we are playing is not even and is being change as we go along and self serving interest begun to develop. We believe that this situation can and must be proven either by way of reason or the a Court of Law. We believe that given the facts above mentioned, VSE is responsable and must be accountable for the lossess incurred by the shareholder shoulf this situation develop into a permanent halting. We believe that it is possible to reverse the situation by way of an injuction from the court. I urge all Sungolder to think about it and express their opinion by way of the thread and ultimate to e-mail their support to: Leandro O. Silva Servimex@Icenter.net By the way, we need the name of a good Lawyer especialized in this kind of situation based in Vancouver. Any suggestion would be welcome. Regards Leandro

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