This is very interesting.. thought I would post it here:
have question
Inbox
Reed Newstrom <newstrom@gmail.com>
Sat, Aug 27, 1:30 PM (2 days ago)
to nils.ollquist
Hello, I am a shareholder of bmxi.. brookmount gold. I wanted to ask.. about 2015 you were ceo/president of brne.. Borneo.. there seems to have been an alleged lawsuit against you & brne for nonpayment of notes.. is this true.. and did a judge rule in favor of the plaintiff in that case.. I read about it.. wondering if true.. I like bmxi a lot.. I cannot, however participate in the 9/6/22 coming nference call.. so I am asking you by confidential email.. thank you…
Sincerely,
ReedNewstrom
Shareholder of bmxi
nils.ollquist@brookmountgold.com
Sun, Aug 28, 7:34 PM (14 hours ago)
to me
Hi Reed
Thank you for your email. The Borneo Resources matter was settled, with no liability, over 7 years ago. At the time, the incoming CEO, in an attempt to hijack control of the company, had filed a lawsuit concerning repayment of an outstanding loan which he had arranged for the company from a group of his partners (the notes you refer to). For a number of reasons, (including deliberately short notice for the hearing) Hong Kong based management were unable to attend and a default judgement was awarded. The company was delisted from OTC and, given the previous management’s strong relationships in Indonesia the operating assets were extracted and rebooted. The has since company reverted to shell status with the incoming CEO (a former used car salesman in Seattle!) remaining as Chairman.
I hope that this addresses your question.. Feel free to reach out again should you have further queries.
Your sincerely
Nils A. Ollquist
CEO Brookmount Gold Corp
nils.ollquist@brookmountgold.com
