Borneo Resource Investments Ltd (BRNE)

[Ramblo]

Here is the court information

At present, Defendant BRNE has 400,000 authorized shares (probably a clerical error, they mean 400,000,000) with 319,336,594 outstanding. The Receiver plans to amend the Articles of Incorporation to authorize additional shares, and then issue those shares to the above referenced claimants pro-rata based on the current market price (currently $0.0006) for the BRNE shares. The Receiver intends to cause BRNE to issue shares to the claimants concurrent with a ruling on a hearing before the Eighth Judicial District Court of Clark County, Nevada based on Section 3(a)(10) of the Securities Act of 1933 seeking an order finding that the terms of the issuance are fair to those whom the securities will be issued such that the shares are exempted from registration and may be freely traded in the market. The Receiver tends to file and serve notice of the Section 3(a)(10) fairness hearing at the earliest opportunity.