SPO Networks Inc (SPOI)

[MooseMan555]

It is called arrogance and incompetence added together. Opie always thought he was invincible. HE did not have to obey the law or have back-up, approval, or any concurrence of anyone. Would-be Gods call it Omniscient and Omnipotent rolled into one. Opie is no God. That is a big reason that Opie amassed all of the liens that now are attached to the company.

Now we find that Opie himself signed the document at the Idaho SOS? In it it says:

No stockholder shall have pre-emptive rights. The Board of Directors may increase or decrease the number of issued and outstanding shares of authorized capital stock with or without correspondingly decreasing the number of authorized shares of the same class or series.

I think that the Idaho SOS misread it, because it does not say increase by X, it instead says that it is increased to 10B.

If I read that right (please correct me), all of the preferred stay as preferred but without common voting or any other rights, as if a vote is needed now for anything, and like was previously forcasted on here, he can do a RS, increase the issued again, do another RS, and on and on. All under color of the shareholders having voted to get screwed royally.

Personally, I have a stock that I bought many years ago still in my broker account that started out as 10,000 shares at about 50 cents. I now own one share at about a buck. That's reality, friends!

For me, unless I see some real potential here including Opie GONE I am finally going to sell for whatever I can get and move on. Has anyone thought of a shareholder derivative suit against Opie for fraud? With all of those press releases, we should be able to take some action, I would think?????