In order to provide the LLC manager with information needed to file an SEC report, etc, One needs to provide a PP type cert of ownership from CDEX to the manager.
The rules of the LLC agreement apply as to the various contribution, voting powers of the contributers/members, etc. When to terminate, etc, or eg, call in any loans made by the LLC, limiting membership, adding membership.
In the case of CDEX the outstanding shares are mostly restricted save the 25 million owned by the public.
So as soon as PEMCO forecloses, (IF THEY DO) they can wipe out that pesky 25 million by BK if they wish. 7 or 11 will do.
