Let's talk candid - In my Opinion of course.... But just some food for thought...
1. The statement "Your assumption is that the deal should have gone through and then shareholders would be able to find relief after the deal was done." ......The argument seems to being made that the deal would have gone through, it would have never gone through.... I wish at least people would stick to the same argument. If it did go through then the company would be current and trading Exobox as it is, and CBG on its' own, regardless of the amount of gain CGB would have provided - It would be a GAIN....By the very definition it would be impossible for any of us to lose AND Exobox would be current and have a chance.
2. The statement, "Questions were asked to Shaun about the deal but the answers given were vague or went unanswered. " ...... Another person on here made it clear on here that these questions were asked of the company and the lawyer who they hired to do the legal work. His response according the the plaintiff shareholder was ok, but it needs to be disclosed to ALL shareholders- BTW, that is what a Public Company is REQUIRED to do - not simply provide inside information to a few.
3. The statement, "The new CEO was appointed by only who knows. No votes according to sec rules followed to show how he was appointed and with what authority." ...... This is governed by State law and has nothing to do with SEC rules. BTW under the Law current directors appoint new directors....without a shareholder vote. A shareholder vote is simply another way in which directors May be appointed.
4. The Statement "Yes, we would still have shares in Exobox but if the company is de-listed, we may just use them for wallpaper" ...... Do we not all realize that the lawsuit only forced the company to spend the money it had to do its audits and legal work to defend itself - Therefore the Lawsuit only increased the chances for the company to be delisted... If that were to occur the damages would only go up against those responsible for stopping the company and Mr. Irvine in doing filing but instead defend lawsuits.
5. The Statement, "A TX judge put a restraining order to block this deal for shareholders. This was not some nefarious scheme to disrupt commerce as the federal suit claims. This was done through the legal system and not some conspiracy. Exobox had the opportunity to present to the court at that time this was a good deal but apparently they couldn't present their case convincingly and the court didn't see it that way." ...... A Temporary Restraining Order is called Temporary for a reason. This is what the judge granted. They are received without the other party having the opportunity to defend itself. In this case shareholders went in and asked for a TRO - without the company even being aware. Then typically in 10 working days a short trial is heard to determine whether or not the TRO should remain. In this case when the company defended itself in court the TRO was not upheld and was removed. By then it appears as though CBG had canceled the transaction due to the lawsuit and the point was moot. The case was eventually tossed completely by the judge in Texas. I would recommend reading the filings which are public instead of believing any statement made online.
6. Finally, "They only thing shareholders wanted was to be able have information honestly presented and and an option to vote on it." ...... Again I answered above but information can not be provided for selectively as one person posted on here - it must be provided for all shareholders. FURTHER, If the company was to hold a shareholder vote it would require items that the company did not even have at that time. ALL Reporting Public Companies must provide a document to do this that requires the company to be current on filings, which includes audits.
My question is - Rather than criticize Shaun Irvine, What would you propose he did? Is there some shareholder here willing to loan the company $50,000 or possibly much more to do this? Mr. Irvine seems to have used the resources he had to fix the situation while maintaing the value of Exobox....
I have spoken to Shaun a few times during that period and apparently he told me he offered to the person he told me was leading these shareholders to simply pay for the costs of the company and he would gladly work with them. That person apparently declined. I don't know who that was but I do find it interesting if true.
