Friday, December 08, 2017 8:26:35 AM
In November 2015 Otto made a call to the Lithium people and screamed at them for their offer telling them that he would 'burn his shares' rather than doing this deal.
At the time Otto was not a director so how did he find out about the Lithium offer?
Dan Byrnes, illicitly, fed Otto the information, gave him the Lithium guy's phone number.
In this manner Pichfork becomes a 'de facto director' of both SRSR/Nio Star director by definition.
Because of this call the Lithium group got cold feet and said until major shareholders and SRSR/Nio Star management were on the same page they would not execute the deal.
Of course, Dan didn't understand the concept of CARRIED interest (Dan told me so on a phone call on September 28, 2016)so he figured that SRSR shareholders would get massively diluted when the Lithium group spent all that money.
So Dan told Otto the shareholders would be diluted so Otto,understandably, blew his gasket and messed up the deal which would have saved SRSR.
The Ontario court won't like the fact one bit that Otto was a 'de facto' director as he obviously was.
IMO.
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