Xun Energy, Inc. (fka XNRG)

[Huggy Bear]

Regarding invoking a Section 3(a)(10) exemption certain criteria must be met:

Examples of appropriate statutory standards in favorable
Division responses to no-action requests include
requirements that the entity determine that the transaction:
(1) "adequately protects the interests of depositors, other
creditors and shareholders" (Minowa Bancshares, Inc.,
November 26, 1990); (2) be "fair and equitable" to
shareholders (Farm Family Mutual Insurance Co., April 2,
1996); (3) promotes the "public convenience and advantage
and the interest of [the merging] institutions, their
members, stockholders and depositors" (CFX Corp., April 19,
1996); and (4) "is such that an intelligent and honest man,
a member of the class concerned and acting in respect of his
interest, might reasonably approve" (The Hongkong and
Shanghai Banking Corporation Ltd., January 23, 1991).

https://www.sec.gov/interps/legal/slbcf3.txt

There are four precedents right there. How many shareholders think this exemption meets the requirements of a legitimate application of the Section 3(a)(10) exemption?

1. Does this exemption adequately protect the interests of existing shareholders?

2. Is this "fair and equitable" to shareholders?

3. Does this promote the interests of shareholders?

4. Would an intelligent and honest shareholder reasonably approve of this exemption?

I wonder why they did not request a no-action review beforehand? I expect to see live action the way the related parties went about hijacking what is intended to be only for legitimate financial relief.