"Hijacked how? Please explain."
He paid a grand total of $1,000 in what his Statement of Consent called "reorganizational costs of the corporation" and in return HE GAVE HIMSELF COMPLETE VOTING CONTROL OVER THE COMPANY FOREVER.
I called it "hijacked". Should I have just said that he got himself a "real bargain"?
There are three elements that I took into consideration before I called it a hijacking.
1. The price he paid for what he got in return....total voting control over a company that common shareholders may have thought they (as common shareholders are wont to think) had some influence over.....was a pittance. $1,000. I expect that many common shareholders have invested far more.
2. The fact that he was able to take the action unilaterally....no one, including common shareholders, had any voice in deciding whether his action was proper and appropriate. The absence of a Board of directors, or even just a second director, allowed him to decide the terms of his acquisition without any independent influence at all.
3. The fact that the terms of the Preferred E Series, which he issued himself in November of 2013, weren't made known to either current or prospective shareholders until July of this year when YOU finally published them.
You published them after arguing for months that they were public and available to anyone who took the time, effort and cash to get them from Nevada. Of course they were never filed with the SEC, but I guess you would argue that they didn't have to be. And Pierce, who spent plenty of press release space on things like promises of a Board of Directors and audited financial statements, promises that remain unfulfilled, apparently didn't think that a press release would be a proper place to tell the public that the company was COMPLETELY in his personal hands as of November 2013 and there wasn't a damn thing that they could do about it.
In retrospect, "hijacked" may have been too generous.
re:
"Please note: There is a reason NAMES of CERT holders must be filed with the NV. CERTS can be lost, surrendered, exchanged, and (ahem) stolen."
Thanks. So what.
"I ated the purple berries"
