Hello fellow USPS shareholders. Happy New Year to everyone.
I am posting to see if anyone else received a proxy regarding USPS. A merger and acquisition firm, Carrera Capital, Inc. held a shareholder meeting Friday, December 30, 2005. I did not receive the proxy until Saturday, December 31, 2005.
Do any of you know the president of USPS (?? Dave Gardner ??) or know how to contact him to see what he has to say about this?
What are your opinions on this. Is there any chance the current management will ever resurrect the company. Is this action good news, bad news, or does it not make any difference. Our shares are not worth much now as it stands, but I don't feel too good about being acquired by another company and end up with just one share for every 10,000 shares I currently own.
Is there anyone reading this message board that has experience with this and can tell us what is happening and what to expect?
Should we band together and fight this action or should we be glad and go along with it?
Can we do anything about the shareholder meeting being held before we received the proxy material, like force them hold another meeting after everyone has had time to respond to the proxy. Who would we contact?
Thanks in advance.
Ron
A letter included with the proxy says
- USPS is not operating and has been abandoned by if former officers.
- USPS has been administratively dissolved by the state of Nevada for failure to pay annual fees.
- USPS terminated its relationship with its transfer agent, abandoning shareholder records.
- The company (USPS) has not responded to inquires for current information regarding its quotation on the Pink sheets quotation system.
- The company has not held a shareholder meeting in over 13 months.
- The company has failed to file state or federal tax returns.
The sole purpose of the proxy and shareholder meeting is to select a new director. The one they are nominating is
Chris Allen
who is CEO of
Carrera Capital, Inc.
Mergers & Acquisitions
2425 E. Camelback Rd, Suite 1075
Phoenix, AZ 85016
Telephone 602-852-5445
The letter also says that Carrera Capital, inc. has several viable businesses which may be interested in merging with USPS, but in order to do so, each shareholder should vote in the shareholder meeting (to elect Chris Allen I presume).
The letter also says Mr. Allen's primary area of focus include:
- Addressing the entity's outstanding financial obligations, including, but not limited to, state and federal tax debts, monies owed to vendors and corporate filing fees and franchise taxes owed to states.
- Locating and updating state filings, board of minutes, articles of incorporation, and other corporate books and records.
- Finding merger and acquisition candidates for the purpose of resurrecting business operations in the previously default entity.
- Opening and maintaining communication with shareholders by conducting shareholder meetings and issuing notices.
It then lists David B. Stocker as corporate counsel. He specializes in representing small and mid-size private and public companies, their officers and directors. He can be reached via email at david.stocker@azbar.org or the telephone number referenced above. |
