MTEI - Mountain Energy - No BASHING Allowed Message Board

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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed

MTEI 0.00400

-14.9%

Nov 18 9:31 AM EST

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To: LT who wrote (7296)	7/31/1998 1:11:00 PM
From: Fred Ragan	Read Replies (4) of 11684

My opinion only: Regarding the status of the 19mm shares in question: My experience has been that the request to the transfer agent to issue the shares would have to have been accompanied by a resolution authorizing the issuance of the shares and duly approved by the board of Directors at a properly constituted meeting . As I don't see the transfer agent listed as a defendant, my guess is that the case may hinge on a simple forgery or series of forgeries. I doubt that the shares can simply be canceled. It appears that Jack is instead going after damages equal to what the shares were probably sold for. If successful, that would leave MTEI with cash to use at there discretion. They could then buy back shares on the cheap or employ it as working capital.

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