Jason,
That is our problem. He never responds!!
As to the increase in authorized shares, I understand the reasoning behind most of the earlier posts, however, the fact remains that the increase took place without a shareholder's meeting. I never received a proxy stating that there would be an increase proposal at said meeting. I am convinced that the latter never even took place.
In addition thereto, my e-mail requesting a copy of the resolution was ignored. I am not quite sure what the legal requirements are in the states, however I am quite confident that the increase was illegal.
I recently contacted a CVIA shareholder who led a shareholder class action suit against the company's directors. They proved that the CEO had released misleading and fraudulent press releases (kind of like what is going on here). The judge ruled that 2 shareholders be appointed to the Board of Directors. Since, the shareholders and their representatives have taken control of the BoD. As a result, they are helping the SEC investigate further into the matter. Thus, individual investors can make a difference by taking an initiative.
I am not suggesting that such action be taken with respect to LTGL. However, I would like to see some proof that said increase in shares legally took place. As a shareholder, I have that right.
Just hope I'm not the only one who shares this view.
AK |
