Thursday, September 18, 2008 1:24:40 PM
We are very excited to say that we are well on our way to completing this proxy. The return of faxes and scans has been excellent and has covered a large percentage of our stockholders. It is very important to note that we mailed out the proxy on Monday of this week [09-15-07] and if you haven't gotten it already then please contact us and let us know. We can send one via email, fax or mail another copy to you to ensure you get your vote in. EVERYONE HAS TO VOTE TO SEE THE COMPANY MOVE FORWARD
For those that have been wondering, "what we need to increase the authorized shares for'" we wanted to point out several things. First we have not had any authorized capital for over two years in this Company. This means that since we took over there hasn't been a single share issued in the Company. What are shares used for? Well we have to have shares to raise capital or exchange for a project or asset. We have financed the current operations out of our own pocket and the Crows Run Project has been acquired based on the creation of the preferred class of stock. Simply put unless there was a way to get a loan there is no other way to move forward other then to increase the authorized capital and use the creation of a preferred class in exchange for financing and acquisitions.
If anyone is concerned with management's intentions with the newly authorized stock we want to offer several points for your considerations. Currently management has begun assembling a stockholder committee mainly composed of members of the top 100 stockholders. Titan will be willing to allow smaller stockholders in as well should there be an interest to do so as we believe all invested parties and their opinion is just as valuable. It is management's plan to discuss expansion, acquisition and financing plans among other things with this committee and discuss what exactly shares are being issued for and how that will benefit all of us stockholders.
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