Shareholder meetings->
Now with covid issues and likely the year or 2 ahead, meetings take place via on line but now companies can just say to call a number to get info. The only way to take action as a shareholder is to have everyone proxy and vote in a new CEO but that would be impossible because 90+% of who owns SGMD shares does not come to ihub and are likely unreachable.
You would have to take legal action to get the list of all shareholders, then send them all a proxy card so they can vote in a new CEO (if they even vote) and then take the steps to take over as CEO with compliance etc.
Plus any attempt to proxy and the debt collectors would just issue 3 billion shares to the CEO so he will own more then the 2 billion float making any vote proxy not enough to take over.
So the outcome is NO no meetings and NO no one will be able to proxy control.
This again is one reason OTC companies make sure they sell less shares to more people. If they sold lots of shares to only a few, they could vote out the CEO and take over the company with all the laundry that goes along with it. But who would even want that.
Selling more people less shares also means no one will invest $20,000 to sue to get back $1000.
As long as there is not enough people to vote out the CEO, they can just say to call the 800 number for the recorded shareholder meeting info.
But this ticker will be long gone before the covid vaccine gets distributed so I would worry more about how to tell the wife you lost the $$$ on this issue before then.
And lets be really honest. Since most here own less than $500 in SGMD and they elect to have the meeting in Hawaii, you would have to spend 4x what you spent on the stock just for the airfare, hotel, food and car rental getting to the meeting.
Shareholder meetings are primarily for voting in the CEO and board, if they can prove they have more votes then the masses they can elect to cancel the meeting as no votes will matter until the masses get control.
:)
