Saturday, May 28, 2016 6:09:04 PM
If the Articles of CDCH require 3 Directors and there are only 2, then the same problem exists as with Medinah. And if this is so, only two Directors when they require three, then the recent deal they did with AURYN is illegal. Read the rules, for Heavens sake!! Or better still ask the SEC about this if you don't believe me.
I found a copy of Medinah's Articles of Incorporation on the web. Medinah requires a minimum of 3 Directors. They can't open a new bank account, or even legally operate their current bank account without 3 Directors. This is not a non-issue. They can't do anything as they're in a state of legal stasis. It is very much an issue that has to be addressed NOW and not wait under October. Medinah's two Directors can appoint a third Director until the AGM but 2 members of the Board can't authorize a legal AGM. To hold a legal AGM they require 3 valid Directors to approve the resolution to have a legal AGM.
Another day without a 3rd Director. With no upfront money from AURYN who's paying the day to day bills?
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