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That's obviously not true, as Dan has provided a break down of BOD power, and some still believe Scott has all the power. So a call or email will be beneficial to these people.
Perhaps he's not yet gone as they need things from him? He was in control for 8 years, I'm sure there was some dealings and they are trying to straighten it up, and keep him on for now to clarify some things...
While I do agree with you at some point there will be dilution. You're still not getting it with the Scott issue. He is NOT in control anymore. We now have 2 shareholders and Scott., each having 33% say, or equal voting power. The 2 shareholders Dan and Otto, aren't going to let Scott make decisions, as his decisions have amounted to nothing over 8 years.
I hope we can now move past this Scott issue, let's use real logic and reason to have educated discussions. I welcome you to bring knowledge to the table, let's just make sure it's factual.
IF you could make money, how is that sticking it to the board? Making money flipping this is VERY hard now, as the volume is lacking, people are holding.
Lol. Someone scored a quick 5k today for $19, say again $19 Woot woot. Gonna flip that for 50% profit, makin it rain up in here!
Lawyers aren't expensive? Going against a publicly traded company? How do you know Scott has any money left? How do you know it's not hidden within other companies, which will take more lawyers more time, and No guarantee, and there is no upfront look to know what you're getting into.
Worst statement ever. Again, Glad you're not running things. You may win the battle removing Scott, even finding him guilty, but loose the war, spending money to get nothing in return. Can't get blood from a rock...
But hey, ES1 wants to be our white knight and foot the legal bills, I fully support you good sir. Thank you in advance.
Perhaps they still need him for information? Millions of dollars went through the company, whether you believe it or not. Before they can restructure the company, they need to get all their ducks in a row, and who knows better where all the lil ducks are than the man who's been here the whole time?
The CEO is a title, you're caught up on the wrong things. This company has a BOD, it's NOT ONE PERSON Scott can attempt to do anything he wants, but will now get voted down, as he does not have majority control.
So say you now have 50%+ You have control, this is your thinking?
"I know the instant that I had control the first words out of my mouth would be...
"Scott you are fired. And you can either forfeit what you think you are owed and 50% of your shares will be retired or our lawyers will begin the work needed to charge you with securities fraud"
So with out knowing if you needed information he has or need a time frame to transition to a new person you would make this call?
You also think that paying lawyers to pursue Scott with little chance of collecting is a good use of company capital as opposed to putting it towards the business at this time is a good idea?
Glad you are not running the show here as impulsive action against Scott isn't going to add value to the property.
I imagine any misdeeds will be all sorted out in due time in the best interest of moving the project ahead for the benefit of the shareholders.
Yes that is correct if you buy greater than 50% you can call a meeting and replace the board.
Board members are empowered to elect other board members. So Scott and Cam would have had to vote Dan in, one board member wouldn't have authority to make a board decision in their own.
Dan and Scott both had to elect Otto.
Again the board controls the company until such time the shareholders call a meeting to replace or remove them.
"Nor has any single shareholder put together a consortium of shareholders that hold in excess of the 25% of shares"
That is not true the shareholder group had the requisite amount of backing but was able to achieve their goal of adding Otto to the board with out going through the cost or delay of a shareholder meeting.
I believe I said it was Scott and Cam's decision to bring Dan on board. Just like it was Dan and Scotts decision to bring Otto on board.
So that is where we are now, Scott, Dan, Otto 3 board members who each have 33.3% control of the company. Any 2 can over rule the other.
I hope this finally clears up what you've been going back and forth about.
You are correct that it's possible for creditors who can verify their debts to also be able to call for a shareholders meeting to elect new directors but it's not an easy things not inexpensive for a creditor to achieve.
You are assuming they are creditors. The law requires that the creditor can prove that the debts can be verified and are of sound origin.
Meaning that such transaction were approved by the board of directors which would require the transactions were done for the benefit of the shareholders. That actual and beneficial services or goods were supplied in exchange for the debt.
So they may or may not be creditors. If they can't provide debt verification and payments were made on the supposed debts they may actually be debtors who owe the company money.
Dan can't just put a liability on the books that pays him 5 million dollars. It would have to have been board approved and be vetted against insider arms lengths negotiations and be shown to provide benefit to the shareholders.
That would be incorrect. The Board of Directors has full authority to operate the business. They are in control.
Shareholders have the ability, if they are unhappy with the present board to call for a shareholder meeting, propose an alternative board or individual members. A vote in the held on who should be a board member going forward.
Until that happens the Board does in fact have total and full control of the company, its assets and business plan.
Most of what? Who's side are you on this week?
What don't you get exactly?
There are 3 members that make decisions, all equal. Dan and Otto can out vote Scott, and most likely will, so therefore Scott doesn't have control.
I don't know, is it me?
Again,
I believe the BoD will act in the best interest of shareholders, as the majority Dan and Otto, are themselves shareholders, who bought in, weren't gifted shares.
As far as Public activity and mining activity, Dan's hands were tied until Otto came on board. The company has begun restructuring, and I'm sure the original plan to spin out is still a main focus, next to securing funding.
Your not getting it, there isn't any one individual or a organized group of individuals who control the majority of shares, greater than 51%.
How many shares Otto, Cam, Scott or Dan has doesn't matter as no single shareholder according to Dan has even 10% of the shares and the largest are in the 5% range.
The ability to call a shareholder meeting is 25% of the out standing shares.
So until a group of shareholders calls for a board meeting the company is controlled by the board of directors.
That board now consists of Dan, Otto and Scott. Dan and Otto are working together and now have control of the company as directors. Previously it was Scott and Cam who outvoted Dan.
The board is controls the company until such time the shareholders get together to change that.
Also Dan told you that the above information about no shareholder owning even 10% and that he wasn't comfortable disclosing exact figures as reporting shares counts in required for a non reporting company.
So your only telling part of the information you received from Dan as I asked him about it.
Plain and simple there are 3 board members and any two make a majority. At this time that is Dan and Otto.
Correct,
Scott is still in the picture, we said he no longer has control since Otto arrived. Perhaps he was thinking Cam, he is gone.
Black balled and blackmail are completely different, please look up the meanings, thank you.
It's not just about one person, Dan, Scott, or Otto, it is a team effort, and now that we got rid of some dead weight (cam) and current shareholders have control of the company, I see things moving along faster, and in a positive manor.
I would say restructuring stage? I think that is a safe bet.
Agreed
No two projects are the same. A lot of variables, and unknowns at this stage.
This is based on your extensive mining experience?
How about you try, and then you can post your results.
What are you talking about? Who cares that is old, it's relevant to the conversation.
Please do us all a favor, email Dan, ask him how the board of directors power is divided and share the response. Until then please stop saying that Scott has all the power and control of the company.
The holes that were "twinned", and came back, had near if not better than the same results as the original Gulf report. So I doubt that the rocks the Chinese took had bad results. More likely a deal couldn't have been reached, so they didn't share. Again why go through all the work spend your money, only to had it over if a deal wasn't going to happen.
Do we know if they were paid? I don't understand what you're speculating at. You think people are just taking our rocks doing work and not giving us results, for no reason?
Alan, there is no volume right now, and no reason for people to short this stock...
Well,
Perhaps the SOE didn't care to provide the results as a deal couldn't be met. Why hand over free information so SRSR can go make a better deal. But hey, what do I know LOL hahaha LOL right real childish like and all.
What are you going on about now? We don't know what the Chinese SOE did with the rocks, we don't know for sure if they even went to China. Also That deal wasn't to sell the company, I believe it was like up to 51% for up to $26 million.
Certainly seems like it. Niobium is becoming more and more publicized. Which in turn should bring awareness, and hopefully create new uses and more demand.
What does being a parent, have to do with knowing whether you're being lied to? I think at one point or another everyone here parent or not, drank the kool-aid. We believed in the property, we believed in the Keevil name. He got us, now we're taking it back.
I would assume so, however looks likes no one is falling for it.
I see someone is trying to bring down the house with this minuscule sell. $.0037 x 4000 = $14.80
That is a very good possibility, especially when you look at the players involved with Sarissa, Joshua Gold, Canadian cannabis Etc. A revolving door of the same people in different industries. However that being said. I think he underestimated Dan. A professional who has money invested, and wants to see this through. Again now we have 2 directors, both very successful businessmen, both with a lot to loose if this doesn't become successful.
If there was ever a time to make this happen now is it. We have the majority control, and niobium is making a comeback.