TG : I believe that you are correct in your assumption that with the right legal representation; all of these proposed reverse splits, spinoffs, etc., can be nipped in the bud, pending litigation.
HKElrod will, as usual, do everything 1/10 ass and therefore will be easy to beat on the legal front.
Boner can call a shareholders meeting, but you will have to look at the bylaws to determine what management can do with out shareholder approval and also what a majority is. I know that in my home state it takes 65% ownership to do anything that is dilutive in nature, and as shareholders we do have a right to see the articles of incorporation and the bylaws. If any of us, LPS group included, does request those documents we will not get them, so this deal is headed for a lawsuit no doubt.
It amazes me and others that I have spoken to on the phone, and by PM and e-mail, that there are some shareholders that side with this management. A management that has lied one on one and through hired mouthpieces, issued false and otherwise misleading press releases, made deals, and tried to manipulate the price of the stock by making press releases based upon those deals, and then reneged on those deals after selling stock into the increase in price as a result of the deals being announced. There is much more to this story and will be told in the coming days.
I own alot of stock and will of course vote with the LPS group. I am in touch with appx 4 million shares , all of which are away from this thread. This thread represents, by the count, I think close to 3 million shares. So that is 7 million + LPS at 7.5 million = 14.5 million shares which I think can be easily sold on the new management and business plan. This is well over the 50%.
I think that HK Elrod & Co. reneged on the wrong deals. |
