Flexpower Inc. (FLXP)

[kraken]

The company just announced a cash dividend of .20 cents.
MonArc Corporation (MONA) Announces Details Regarding Cash Dividend

BEIJING, Nov 19, 2008 /PRNewswire-FirstCall via COMTEX/ -- Mon Arc Corporation (http://www.monacorporation.com) PINKSHEETS: MONA.PK (http://mona.pk/) is pleased to provide details regarding the cash dividend previously announced.
The dividend of $0.20 per share will be paid on December 1, 2008. The dividend will be distributed to shareholders who have continuously held company stock since September 30, 2005 (the record date).


My question is this: is this legal? The company has changed hands or symbol change twice (CHNW-EFGO-MONA) since that period and undergone a 1:1000 reverse split. There were NO bylaws that addressed dividends at that time either Please see:
http://pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=7280
Quarterly Report Sep 30, 2005
Dividends
The Company has not yet adopted any policy regarding the payment of dividends. No dividends have been
paid during the period shown.

Also....the company reported an operating loss of $173,000.00 for that period.
Again I ask...is this legal to issue a dividend to people from that long ago given this information?
http://pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=7280

Is there anyone here that could possibly answer that question?