Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM -- Ignore unavailable to you. Want to Upgrade?

To: Paunch who wrote (5058)	7/23/1998 7:25:00 PM
From: BillyZoom	Read Replies (1) \| Respond to of 11603

Paunch Last year wasn't there a "Furry Otter" or a "Wildcat" that was a supposed strong supporter/shareholder/lawyer? If they could come forward that would be great. Regardless of that you are 100% correct that any funds received towards such an action would have to be held by a trustee with all funds 100% redeemable if enough money could not be raised. We also have to consider the fact that there has to be a carrot or advantage for shareholders that do get involved in this program as its an all or nothing route to salvation. If you set the benchmark at 50% participation it might be feasable (0.10 or whatever) but that 50% deserve something for the commitment. We need access to IPM's ledgers to be able to contact the creditors and negotiate a settlement. Who knows, .25 - .50 on the dollar may do it. In my experience it shouldn't take much more. After all, the creditors are between a rock and a hard place with this company as well. Negotiate the settlement, establish a time frame for final payment, and then raise the funds through a trustee. Simple. Rob