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Like I said, I wish that you're right!!!! With my investment, I'm far from being against you. If you remember, in the past, I was always for ECT but against RH, who you were protecting with so much intensity. Remember?
I certainly not here to argue with you but to bring a perspective that, so far, not addressed. It's nice to see things with rosy (no pun intended) glasses but there's a big chance that things are not that good. There's been so many screw ups so far and so many illegal maneuvers that this company can be challenged in court forever and ever. My lawyers firm contacts, who are qualified in Canada and the US, think that the latest actions make this one a hornet's nest. Make sure that you're not stung!!!
Right now, I'd be happy to save my investment.
Show us the plan. There hasn't been a single piece of news since this bunch took over the company.
Transparency?????
Like I said, I hope that you're right and I'm wrong but I'm ready. We'll see after October 20th if we're saved from the bankrupcy or if Gordon Bain grabs it. I sincerely hope that you're right. I have a large sum of money riding on it (at least it's a lot for me).
The only members that invested large sums of money are Guy Benoit and Guy Faucher. GIB and Guy Paul never did.
First of all, I never said that Guy Benoit didn't speak english but marely that he would not lose his time working in people's back like Gib does. It's very difficult for me to trust Gib because he's betrayed others in the past. Gib works for Gib, check with David Caroni. I don't think that he would be very afraid of the American investors, as you put it, to the point where he would not repeat the betrayal. I have absolutely no problems with Guy Benoit but Gib and Gauthier, I don't trust.
As for the trip to Korea, did you know that Hyunday is only about 6 months behind us in the development of a CRAM like instrument? If they get their hands of a few parts and the right software, that GIB would have in his hands, they could be operational within about a month. I'll bet you that Gib didn't tell you that one, now did he?
As for thanking Dr. Benoit for caughing up the 43,000 dollars, I'll wait to see if he'll do the same think on October 20th to save the company from bankrupcy. If he doesn't, it only means that he did so to take the patent away from Deslauriers/Main to hand it over to Gordon Bain. Guest you hadn't thought of that one? Time will tell and I sincerely hope that I'm wrong but in case I'm right, I'm getting ready to move legally.
Hope you're right. Loyalty is a vertu that sometimes is very costly. Remember that for a few thousand dollars, most people are honest; for a few hundred thousand a lot of people are dishonest; but a million dollars, all of them are dishonest. Gib and Gauthier have a history.
PS, as for meeting, I'll check what my contact in Ottawa can come up with.
I agree with some of your comments as they reflect the information provided in my earlier message. Others, I tend to disagree with but that's our mutual rights. As a remark, I'm sure that you have never spoken to my contacts because they work behind the scene, one of which is an investigator for a law firm in Ottawa. Members of this firm have invested in ECT and have an eye on the events. I do have some contacts in Montreal but I never rely on a single source of information.
Anyway, those are my concerns and I don't care who is left on the board or who has left it, none of these guys (no pun intended) are real managers. In the world of business with real sharks, they are totally unarmed and we would lose everything. As for me personally, I know that this board has done several things that are not in accordance with the Company bylaws and/or the Corporation Act and I will contact the SEC if things turn sour. I have enough to have one of them in jail. I've done it before and will do it again if I have to.
By the way, this board has illegally pushed the president aside and anything that the board will do in the future would be reversed by the SEC for the State of Delaware following an investigation. That's my insurance policy. I don't favour one president over another, I think that they should all be replaced by real managers. This board has no transparency and has deviated from every item of their rehabilitation plan to replace RH. Any plan that the board would come up with now would lack credibility.
Good Luck to all of us, we'll need it.
For reasons unknown to me, Gib de Medeiros, Guy Benoit and Guy Paul Gauthier called a snap meeting and voted Guy Faucher out of his position of President and CEO which is not in accordance with company bylaws and the Corporations Act for the State of Delaware. Gib has requested Mr. Faucher's resignation from the Board. Gib can request anything that he wants but does not have any power outside the powers granted by the company bylaws. Accordingly, there are still 4 members on the Board of Directors and Guy Faucher is still the President regardless of what your informant (Gib) may have told you. (That one was easy to find since Guy Faucher and Guy Paul Gauthier don't speak English and Guy Benoit just would not act in such a manner.)
Hi Rose! Nice chatting with you again on this board since we kind of always agreed on most subjects except for the presence of RH. I truly admire your loyalty toward this Board of Directors but I’m afraid that I can’t share your optimism for the following reasons:
Mario Naim, was planning to bankrupt the company from the word “go”, acquire the patent and sell it to an American group fo businessmen. When other directors resisted him, he resigned but continued to sue ECT without success. Mario Naim does not have shares in the company.
Guy Benoit was quite inactive and attended only few meetings. He involvement only dates back to early last week when he came through with his promise to buy back the Canadian patent (pending). Guy Benoit has several million shares in the company.
Gib de Medeiros basically stole the patent from Biocognisafe to bring to Huppe, then took it from Huppe to bring it to us. I wouldn’t put it passed him to take it from us to his new employer or for his own benefit. He just can’t be trusted especially that he’s booked a trip to Korea immediately after the projected date (October 20th) at which ECT would be in bankruptcy. Gib’s connection had already been established through ECT representatives who Gib is trying to bypass. Gib has several million shares in the company.
Guy Paul Gauthier was Huppe’s former right hand man in the shady dealings. He is very “friendly” with the Gordon Bain group who is trying to acquire the rights to the patent. He borrowed money from the Bain group to pay himself and the company programmer who happens to be his brother in law. He sold all of his shares in the company and has had problems with the AMF (Quebec SEC) in the past.
Guy Faucher is the president and was at the forefront of the legal defenses of the company. He invested some of his personal finances to obtain legal representation for ECT and has always represented the shareholders. Guy Faucher has several million shares in the company.
In the last few weeks, the Board members have engaged in law suits against each other and illegal internal maneuvers to grab as much power as possible. This entire Board cannot be trusted anymore on top of the fact that there is no transparency, the Board has failed to abide by their initial plan to face reelection after 90 days, has not had an annual meeting, has not informed shareholders of company developments and has often acted in manners contrary to the company bylaws and Corporation Act of the State of Delaware.
We need new management and fast before we lose our investment. I shelled $250,000 in this venture and do not intend to lose it like this.
Dr Guy Benoit came up with the 43,000 dollars for the payout as he had told the board about 2 weeks ago. I'll have more info for you and the other people a little later. Gotta go!
ECT and the proposed replacement Board since about a month ago, all the directors wanted to resign their position. There were 2 witnesses to Guy Paul's proposal. It will all come to light in due time as this may warrant another visit to the AMF. He's been there before.
There are still 4 board members. Your contact fed you the wrong information. Wishful thinking on his part.
Can I assume that Guy Benoit, Guy Faucher and Gib are left on the Board?
That's a lot of Guys. Has Guy Paul Gauthier resigned?
Did you know that two of the directors are willing to give their resignation in exchange for a little private deal? Mr. Guy Paul Gauthier is willing to step down with a 10 million share payoff, $40,000 with a signing bonus of $25,000 immediately. This is illegal and Gib de Medeiros is willing to do the same but wasn't stupid enough to put it on paper. The Bylaws are formal and the directors are in position for one year only, in accordance with the State of Delaware Corporation Act. We should do something about this before it's too late. These two bozos are sinking the company for personal profits.
Absolutely, we have a fantastic proven product, financing prospect but poor management with some directors bordering on fraudulent. We need just a few more elements of proof and, well, that's all I can say for now.
It's definitely not over, not by a long shot.
I agree 100%
Thanks for the info. This is strange that some one wouldn't want to be recognized as a regular.
Patent pending
Can anyone tell me why the messages from ECTFRIENDS disappeared as they were very pertinent?
Deslauriers happens to be Mario Naims' uncle.
That was the Canadian patent only.
It's not over till the fat lady sings.
We still have some avenues:
Chapter 11; and
Complaint to the SEC (Delaware) for all the irregularities which are plentiful from this last Board of Directors which would halt the stock and all transactions for 3 months.
Maybe we should seek protection of some kind from these creditors. Something like the bigger companies do to restructure. I'm not an expert but....
In Germany (I've been told) on both vacation and to show a prototype of the CRAM to interested investors. I've been away for quite a while but have been reading the posts occasionally. There may be some very interesting stuff in the making. I'll keep you posted.
Maderios is in Europe for 2 weeks.
RH is becoming a non-event. He's barely a factor as it is. The intellectual property and pattent belongs to ECT (EFFC) but cannot be move without the approval of the inventor which, as you know, is Bruno. The CRAM is not going anywhere without Bruno's approval, not even ECT Corp and certainly not VIG or whatever phony company that RH can dream up. Again, the entire deal needs TSX approval and they won't approve it.
With all the posts saying that RH is a liar, wouldn't it easier to assume that he lies all the time. We could save hours on this post. There could be a flashing news corner to inform newbies and we all could save precious time avoiding to post that he's a liar all the time.
The last transaction for VIG was september 12th, 2007 and the stock has been suspended ever since. The TSX will never let that deal go through. The require approval of the TSX, AMF and SEC. It's not going to happen.
Agreed 100%
I strongly agree but for whom????
I'm not so sure about that! I've seen this be done before but I don't remember the circumstances surrounding the transfer.
What good is the CRAM to the shareholders if RH transfers it from ECT Inc to ECT corp and then to some phoney company? We get screwed all the way with this guy.
Well energie, you really sound like you want to pump this baby to finally sell the rest of your shares at a higher price whatever it might reach. It would take a miracle to recessitate that one.
Whatever the number, Tectane couldn't pay anyway. Kink of laughable.
It seems like it's all a ploy to get ECT under cover because RH will soon be unable to control the company after his bankcrupcy. He probably has controlling interests in the other companies involved. RH will have to face 6 other court cases in the criminal courts with most of which can carry a jail sentence. It could very well be a place to hide for a while.
VIG.H is a company on the TSX.V that has been suspended and is worth half a cent (.005) on the market. Very promising. There's no way that this company can buy ECT at a decent price.
Nobody can sell ECT without the shareholders voting.
This looks like a pump to get RH out of his financial troubles. I just don't trust him at all. This resembles a lot PGYC in that the information is not verifiable involving ab unknown company run by unknown management.
Yuk!!!
I agree 100%.
How many fathers or mothers have kids and don't really give a damn???? The family courts are full of them. It's a motivator only if you're not selfish and full of yourself, faults that RH has to the uptimum.
Dan Ryan has been involved in a bunch of them. Now weather RH was involved with him, I wouldn't know but I know of several dealings involving our Ryan friend.