Belmont did not buy it. It was given to them by Harris in exchange for what exactly I don't know. I presume it was legal work (cleaning up the shell, arranging the debt pay off, bringing the tax status current, etc). Harris told me "I just gave it away, just got rid of it, I'm sick of it..."
Muese and Harris are the sole members of the board, at least as of my last conversation with Belmont.
They do not have voting rights and are waiting on us to make an offer of some kind.
Dmbao says he knows of other large shareholders among us who wish to take control of KING. Other than him saying that, they have not made themselves known. Not to me or this board. We are still waiting to hear from them.
Belmont is willing to negotiate. I have a call into them and expect to hear more tomorrow. My last conversation with them outlined an agreement whereby they would see to it that Harris is removed from the board and Meuse relinquishes his seat to anyone of our choosing in exchange for a shell of comparable value. I wasn't able to go further than that, because I do not know what we have to offer. I did establish a willingness to make something out of nothing on Belmont's part.
Belmont is open to the idea of trading control of KING for another shell. My sense is, they just want to get something out of this deal. Otherwise, they will let it die on the vine.
That is to say, they will let the SEC close it down (as they do when empty shells have no assets, no business prospects)
I'm told there is a time limit on this process.
Dmbao suggested rightly that our shareholders would be more likely to take care of KING shareholders than Belmont would.
This is why I haven't sold my shares. However, the little guy has been selling these last two months steadily between .0011 and .0019. And of course someone has been snapping up those cheap shares.
So someone knows something and is not sharing it with the rest of us. I suppose that is their right, and it is certainly par for the course in this dog-eat-dog world of pennyland.
I just hope the majority decides to do something soon, or we all lose out. The ball has been in our court since the last and final payment by Harris was made per the court order.
w/r
Pmker
PS I realize there are many folks on this board that question who I am. I have nothing to hide and am happy to talk with anyone about KING. Feel free to email me Piecemakerproperty@sbcglobal.net
and we'll arrange a chat. Also, a visa commercial is running on the Olympics right now with my name and company front and center.
Yep, that's me with the big chair behind me.
