PowerLinx Inc (PWNX)

[Moron]

I understand your intentions. My question is as follows: Specifically, which law(s) have they broken?
You have clearly stated that you believe McBride withdrew company funds for personal use, and that you believe it was inappropriate to draw upon company assets when available cash was minimal (I'm obviously paraphrasing here). Your requested remedies are clearly stated as well.

The issue I'm trying to understand is how you expect to solve this in court. The money he reportedly borrowed (or withdrew) has been documented and legally reported. He is the majority shareholder, and whether he's pulling strings behind the scenes or not, it must have been approved by the Board of Directors. Also, you and the courts aren't in a position to retroactively impose a $100K interest payment. Has someone seen an agreement stating that this was to be repaid at a particular interest rate or term? BTW, I may be mis-understanding your intent on the interest. Are you requesting interest on the money he borrowed, or is it interest which would have been earned by the company had the money been in a SEVU account?

I don't know the answers to these questions, but I've got to assume you do if you feel that you have a case. We have all been guilty of revealing our emotions in our posts. I'm just trying to get back to the facts, and so far, I haven't seen them.