From Mike Saner all, his responses:
(First mine, then his...up to today and my last email to him)
Mr Saner,
I will be organizing a meeting with all other investors to propose and investigation into the company's affairs and demand answers with results from the company's executives. Hunt Gold has repeatedly made several claims, several promises and not delivered and the shareholders are concerned.
I've written to you recently and you have chose not answered and am personally concerned with the integrity of this company and its leaders. With that, I propose you attend a conference or even hold a conference to the shareholders and answer questions (please note, provide validated answers with viable target dates for results).
Mine and other shareholder's questions begin with who are the third parties (by name and association) that are preventing this company from paying its dividends promised by end of February 2009?; When will the website be available that's taken over a year to develop?; And will the company release the "legend" on the common stock (and if so when, by what specific date)? When will the stock buy-back happen (please provide a date) and at what price will the company buy-back the stock?
If I don't receive an answer from you by Close of Business, Friday March 20th, I will personally arrange the conference with the shareholders to propose action. To be quite blunt, the shareholders are tired of seeing the press releases where promises are made, followed by excuses then or no action and no results.
Please also note, I do not want to misrepresent any other person, but am conveying information from conversations I've participated in the blogs.
With Regards,
Phil Schaefer, Shareholder
Dear Sir,
These issues are being addressed. and are our top priority. I made it very clear in a very recent Announcement that I will announce full details of this Dividend; as soon as I am sure of my facts. We are, at this time; wholly reliant upon third parties unrelated to the Company in respect hereof.
Insofar as the Dividends are concerned; an Announcement is being made next week; I cannot elaborate any further on this issue due to it very material; stemming from a proposal put to ourselves; upon which we are still deliberating.
The web site issue is being addressed; as I announced. We have numerous parties providing input; this is taking us longer than anticipated; I am personally attempting to "pull this together" over the weekend as I personally, along with the Board of Directors; are now very tired and irritated by these delays.
An extremely powerful and very significant stockholder is being consulted on all of these issues and we have assurances that this stockholder will back Management on its decisions; to be announced next week. I must however caution you that any "stockholder revolts"; could result in a very negative backlash from this stockholder which will cause significant harm to this Company. In short; this stockholder could withdraw all funding immediately if angered; or if this stockholder considered the Company to be unstable in any respect.
You may rest assured that this Company's Management is dealing with these issues; whilst continuing to grow and expand our business. My advice to you, in short, whilst appreciating your concerns; is to allow this Company's Management to deal with these issues to ensure that stockholder interests are protected and that everything remains "business as usual".
Mike Saner
Mr Saner,
I appreciate your immediate feedback. But I find no difference in the response. I asked specific questions and require specific answers:
-who are the 3rd parties (now plural) and what are their associations?
-will this announcement involve a firm date, where the shareholders will see a result?
-A direct link was posted to the company's website. It's progress after a year in my opinion is unacceptable from a professional organization. We're asking when this will be finished and accessible, with a confirmed date? Even with numerous parties, this task is over managed and if the senior management of the company cannot organize this, what would lead the shareholders to believe this same management is managing matters to our best interests.
-I take great offense of the threat of this powerful shareholder/stakeholder, who is obviously Mr Lumb. I would recommend a message get sent to him. "If you want to maintain shareholder confidence, act accordingly, e.g. "deliver."" PS We're not affraid of him and are thoroughly aware of his track record with other International Stock Markets, previous Companies that he's owned and traded with. With that, please convey "what comes around goes around." To that and to your comment, will he "back" something that provides a result and not something that eludes to an excuse or non-result?
-Stock Buy-Back. When? How? What price?
-Stock "Legends." Will they be released so the shareholders will not be bound to the timeframe? The Shareholders are quite aware of how simple the process is and that this can take less than 2-3 days.
-As for the Dividends, what facts need resolution? Who is involved in resolving the matters and when will the company executives hold them accountable for getting it done? Last matter to this. I look at this payment as a debt that is now in default. This would require an interst payment to be factored in, wouldn't you agree?
Unless this "press release" coming next week is able to provide answers with specific information, target dates and an assurance that accountability will be maintained, this press release will not gain shareholder confidence. My advice to the company and its executives (and to Mr Lumb) is to start delivering.
If the press release does not provide answers with these commitments, I will perform as previously promised and hold a shareholders meeting to discuss our rights and a potential solution to investigate the matters and involve the SEC. Please also be informed, that the SEC has been contacted and notified by several shareholders, as well as several state politicians HGLC does business in, and some of the state's Attourney General Offices.
Lastly, to summarize my position. I invested (as did many others) legitimately with this company, I expect this company to perform legitimately, as do the other shareholders.
Looking forward to the company's press release this week.
With Kind Regards,
Phil Schaefer, Shareholder
Dear Mr Schaefer,
You response and your further questions, in the opinion of our Board Of Directors' are crossing a line that would place us in legal jeopardy, we cannot answer these questions at this time.
I have been expressly instructed to say nothing whatsoever; pending further announcements.
To do so, would seriously violate material sensitive information given to a single stockholder instead of to all interested parties in an Announcement next week.
You have "involved" the name of "Stephen Lumb. Need, I say more? Your message has been passed to Stephen Lumb's Litigation Team and his Securities Attorneys; this is sadly; is a "standing order" from Stephen Lumb's Organization which we have no choice but to follow. Failure to do so; could and may well result in the destruction of this Company. I pray that you have not "started a fire that myself and my Board will be incapable of extinguishing".
Mike Saner.
Mr Saner,
That is very sad. First the company makes anouncements with promises, then makes anouncements that provides excuses, then when confronted, will ultimately blame a shareholder for the demise of the company. I will communicate this around the world over a weekend (this weekend) and in every blog I can find, as well as all trading centers I can get in touch with.
As far as Mr Lumb's litigation team.....bring it on. I hope they like trying to file suit against a shareholder in Kazakhstan.... dream on and get ready for a counter from a collective.... of the shareholders. We may not be the majority shareholders (considering we're up against as many as 2 Trillion Shares at his disposal), but we will have a collective of voices.
In reality, all we wanted were answers which would provide results. If this cant be accomplished, then the shareholders have a right to know and so do potential future investors......globally.
I will not bother to write anymore, I will do what I've promised and call a conference of the shareholders to determine our rights and discuss the issues (promises not kept, deadlines not met......all the posted information we belive to be inaccurate or false) and further decide a minority shareholder course of action (non-Board Shareholders). We will exercise our rights to the fullest and involve the appropriate authorities and governments around the world (I personally know 2 Russian Oligarchs who invested in this stock and also want answers) and will encourage them to look to their authorities for support.
I thank you for your communication and understand your position...essentially, your hands are tied.
With Kind Regards,
Phil Schaefer, Shareholder
AI
