Raiderman, thank you for the good thought out and civil post. I agree totally with your points based on your perspective of things. And one of the reasons I refused to object the Settlement in the last minute and even give up my right to appeal was precisely the fact that, after getting used to live without the money I invested in Loch (and it is much more than the current value) I opted to go with the flow and allow people that have no interest in Loch shareholders benefit, to decide the outcome. As I stated many times, I hope and pray that things will work out and that CDEX actually has a marketable product and hopefully will register and start trading with all the new shareholders aboard.
But I have and will continue to believe that we had much better chances to a more secure and better outcome if we would have taken control of the situation early last year. There is no doubt in my mind that your intervention and participation was absolutely necessary in view of the spectacular defeat of the Derivative Action. I have learned to respect Mari and Robert lately for having the grace of not showing up on the boards any longer, at least not under their old aliases.
Nobody will ever convince me that we could not have had a successfull shareholders meeting and oust the Boys somewhere in the mid last year. The control of Loch would have passed provisionally to a court appointed board that would have performed the distribution. The demand was specifically requested in the petitions of the Derivative Action. Of course, the initial litigation lost the advantage and got beatten down by the Boys. I would have never negotiated with them, not after them showing that they were absolutely not to be trusted. Again, once the summary judgement would have been filed, with a Preliminary Injunction, the Boys would have been placed in a passive position that would have made it impossible for them to file for BK.
But all is history now. The Boys got their sweet deal, the attorneys got their chunk of shares for a job half done, and the shareholders are being left in the same position as before: waiting and hoping.
I respect you for comming out and face the crowd with a well explained position and to a certain point absolutely justified.
The Settlement Agreement may be the best chance for the shareholder as long as all parties involved are respectable and credible. But that is not the case here. Too many issues are still left in the hands of the Boys who know well that their saga is not over yet, and that serving time is a menacing dark cloud that is hanging over them. What would YOU do in their position? What means do they still have to try to balance the outcome to their favor? Do you really think that they will obediently comply with the rule of a Texan Judge, being Loch a Nevada Corporation?
I have learned early in my life that, when a rat is cornered and has no escape, it will jump on you as a desperate attempt to attack. It know that it has no choices anymore.
My prediction: there will be serious problems with the exchange; the Boys will attempt indirectly to interfere with the registration of CDEX securities; since they have nothing more to lose, they will eventually resucitate the Asset Purchase Agreement and cause substantial legal delays that will push a final judgment against them by the SEC, FBI, the Texas Court or any other authority indefinitely. Again, they have nothing to lose anymore and will fight to the end to stay out of jail. How many years do you think a well paid team of attorneys will take to delay any unfavorable outcome?
But enough with my opinions. I know many if not all will continue to label me as a basher. I am not. As you said, there are 3 types of posters: hypsters, bashers and realists. I consider myself a realist.
May the Lord be gracious to all shareholders and cause a favorable and quick outcome for their sake.
AI
