Hello to all concerned,
Well I did attend Exor's meeting today along with a about a dozen other shareholders
including a broker representing his clients of about 1/2 million shares. Total in attendance
including the directors, guest and other staff was perhaps over 20.
Very briefly, the meeting was chaired by Murray Swales, which gave an opening talk of
some of the progress which this company has made during this past year. It was also
mentioned that the company over the past several months have been averaging over
$150,000 in sales and this is during the construction industry's slow months. According to
him, by October, he expects significant increases as this is a typical time when companies
that requires the use of these types of software to upgrade or to replace their existing
products for the coming year. Another target date.
As expected, all resolutions had been moved and passed including the share rollback.
There was however, a small discussion on this subject which I think most of the minor
shareholders did not liked or wanted. The reason explained was that it was requested by
the finance dealer but, carries no guarantee that we will get the money. And in my opinion
given that they have the money and we as a company don't, we are at their mercy. That
particular resolution was approx. 90% in favor and approx. 10% against according to the
vote count by R-M Trust Company. Not even close.
An unusual twist did occur in the morning prior to the meeting, involving a debtholder
that had this meeting adjourned till October 31 1997. It was somewhat confusing and I
will not even attempt to explain. Perhaps Paul could shed some more light on this and add
anything of significance that I had missed as I am somewhat dumfounded. Or call the
company at 604-689-3967 for more info.
What else can I say? At least we have some real problems to go with a real Vancouver
Junior. Paul, please correct me if I am wrong on any of these statements and I guess the
wait continues.
Cheers,
Wee |
