PROPOSAL SUBMITTED TO SHAREHOLDER MEETING
The undersigned jointly own significant shares of Gemini Explorations, Inc. and have voted against the several proposed amendments. However, since we are vitally interested in the success of this venture, we are prepared to revoke those proxies subject to the successful passage of the following motion/(s).
1. The Board of Directors shall be considered an independent body whose members will exclude the highly respected President, other employees and contractors of Gemini Explorations, Inc. in order to provide a semblance of checks and balances for internal control.
2. Severally and individually the following will be elected to the Board of Directors, Dr. William R. Wiley and Dr. Mary Lu Wiley with Dr. William R. Wiley serving as Chairman of the Board while relying heavily upon the guidance and. advice of the President.
3. To protect the past contribution and current position of existing common shareholders, the total authorized number of shares of common stock will be limited to 11,000,000 shares. The additional common shares shall be solely utilized for the conversion of preferred shares and executive compensation as deemed appropriate by the Board of Directors.
4. The authorization of 5,000,000 shares of cumulative, convertible, callable preferred stock whose terms and issuance will be approved the board based on the recommendation and detailed justification by the President, which will be more attractive to investors than the common stock.
5. Preparation and adherence by the President to a detailed annual budget, by quarter, based on available financing along with appropriate justification for approval by the Board with quarterly progress detailed reports of success and failure submitted to the Board and share holders.
Most Respectfully,
Dr. William R. Wiley
Dr. Mary Lu Wiley
14120 Carneswood Rd.
Tomball, Texas 77375
U.S.A.
281-351-4822
drswiley@sbcglobal.net
