ok, let me try to help Yves with this....Yves, I spoke with you at the PR meeting on 09/28/2009...you seem like a straight shooter....btw....that would be a week after RH filed the papers for the RS......
Just got off phone with Yves Cournoyer…
We spoke for a little less than 30minutes. Take it for what you paid for it. I did my best to take accurate notes and the following is based upon those notes.
• The A/S was raised by Raphael
He was able to do this because he has over 51% of the shares. I didn’t ask how that was possible considering the voting results-wrong! Yves we voted this summer..over 157 million votes....now the shareholders only needed 125 million plus 1..take away argo shares, (did you ever hear of them?)...take away Bruno's shares + any questionable shares...(we still should have a majority)...lets just see what happens in the court of Chancery..I guess something was filed....
• There was a possibility of a reverse split earlier in the year. That option will not be exercised in the near future. I have heard talk of an RS...makes no sense...HOWEVER he needs shareholder consent to do this....I am trying to find out if the document that was amended said that there was shareholder consent....if RH checked yes on shareholder consent than he was lying...no shareholder received any notice on these filings...
• The A/S was raised so that they can bring in new investors to pay for the final development of the CRAM, make payroll, and to pay for the legal defense against the 5 friends (ECT defense has already cost more than 300k) Yves-You have PR'ed that the product is ready. You have PR'ed that the company is in great financial shape. Robert Transport will not speak for ECT because the product is not 100% ready...The raising the A/S has diluted my value twice now..that STINKS to Shareholders...we had a 150 million increase just a year ago..same excuses different year...RH is wasting money & devauling MY investment
• Michel Nader is in negotiations with the investors of Axyomm so they can reach a mutually beneficial deal. (I may be mistaken but I believe he was mentioned another or additional distributer)--Really another sour deal? Argo?
• As far has he knows our Michel Nader is not the one who is bankrupt (He did say that he is not involved in anyone’s personal life) Yves who is this guy & why did he show up in cour looking for 2 million dollars? Any sense of what we call in the states a RED FLAG?
• Yves is 54 and built a reputation that he wouldn’t want to tarnish by being connected with a scam-Yves, you told me the same thing. Granted it took me 2 years. Shareholders want value, not excuses. When the Inventor leaves the company, MY red flag went up. RH is good. He always had some truth to the next excuse. How many contracts are signed? RH is not running a SCAM. He just can't get it done. Time to move on. New Blood is needed Any word on MAGNA? What about Air Liquide? YVES, wake up..the PPS is subs.....
• I asked about Raphael’s no show at court. Yves is not involved and has no knowledge of Raphael or any other person’s personal affairs. Although when I told him about an arrent warrant is RH doesn't show up next week he kind of chucked and said something along the lines of "I guess he'll show up then."
The day he suspects wrongdoing is the day he quits-Yves that day is coming. Check up on Deleware law. When the vote is certified, everything RH is doing now is Illegal. The funny thing is RH doesn't think he is doing anything wrong. RH is this a dollar stock? With 600 million shares coming down the pike, me thinks we are headed in the wrong direction...
• He has a CRAM in his car and it works
CRAM is still being tweaked in minor ways to meet customers’ requests-Yves, has it been road tested vigoriously? Why does the leading trucking in Quebec think it does not work? Why is the yellow going on? Is it really because you are sleepy?
• I asked about Michel Nader’s loan of ~ 2.1million and he was not familiar with it as it was a personal loan and not a loan to ECT-Yves again who is RH associating with? Who is the next guy to come forward? You know when I was up visiting, I was with JS & Sebastian. I was asking about Bruno/Gib/Domenic/Mario..you know the mass exit...JS said he did not get invloved..RH handled the front of the office...Hmmmm...
• I asked if any potential customers had brought up the legal issues and he said no. New potential customers just ask about the CRAM, does it work/how it works, pricing. Yves-those customers should do a little more DD...send them a link to this message board....What happened to Shaw? LOI's? THERE IS NOT ONE CONTRACT HERE!
• There are about 20-25 employees of ECT at the moment. +/- is because they have contracted out some work and hire specialists as needed Yves-that is how it started with Bruno..not really needed...Who will be the next one to leave?
• A company contacted him personally b/c their lawyers saw the media blitz and told him to call regarding the CRAM… Since the presentation phones have been ringing off the hook..Great...SALES? No money to produce..oh ok. lets bring the PPS to .001...BTH, 2 years ago there were a ton of big contacts....1.4 BILLION in fact! (did you miss that PR?)
• The key is increasing the install base. Big buyers won’t think about the CRAM until it’s been installed in many more vehicles-Yves big buyers won't touch this thing. They will have done there DD.
Here is a of the PR's from recent History, um..written by you...seems like you are singing a different tone from your conversation with Hermon.....:
ECT: DISTINGUISHED BY EXCLUSIVE PROVEN TECHNOLOGY
AND FINANCIAL SOUNDNESS
Montreal, July 15, 2009 – The shareholders of Effective Control Transport (OTC-Pink Sheets-EFFC) are asked to immediately take note of the following:
In recent days, shareholders of Effective Control Transport have been urged to intervene, entrusting the corporation’s management to a group of individuals, most of whom had previously been employed by Effective Control Transport. To this end, these individuals have been disseminating erroneous information on the financial and commercial soundness of the firm. oh really just do an RS & add 350 million shares? FALSE!
These individuals, who were either dismissed or had resigned from their jobs in the spring of 2009, have also made slanderous comments with regards to the Effective Control Transport company and Mr. Raphaël Huppé.
In order to protect the interests of Effective Control Transport and its shareholders, Effective Control Transport obtained an injunction from the Superior Court, District of Montreal, ordering the shutdown of the website on which the aforementioned defamatory comments were found as well as a court order to cease disseminating information of this nature via any medium whatsoever. Thanks for the protection! WOW Love that A/S @ 600 million
Contrary to information being spread, the technology developed by Effective Control Transport has been perfected and is already being marketed. What? We are not ready?
CRAM: Proven technology
Following several years of research and development, the CRAM technology developed by Effective Control Transport has now been implemented by several transport companies. Recently, in fact, the firm successfully completed the final validation step, in collaboration with Groupe Robert, one of the largest overland carriers in Quebec, which has been using prototypes since July 2008. Other major overland carriers have also indicated their interest in implementing this technology in the near future. FALSE! Robert will not put this in there rigs!
An experienced and competent management team- no comment
Effective Control Transport boasts a strong, competent and experienced team. It has the expertise required to ensure the marketing of CRAM technology, and in fact, has already started to do so, in keeping with the development plan adopted by the firm. again no comment
A financially sound corporation- Oh really? That explains the AS & RS amendments
Monies invested in the research and development of the CRAM technology have borne fruit and the company now has the financial means to ensure the marketing of this technology. -WHEW! See above remarks FALSE!
Nice share structure in September of 2007!
Share Structure
A/S 100 million
O/S 51,340,841 as of Sept 4th 2007
24 million free trading shares and 26 million restricted shares
Delaware Sec of State:
(302) 739-3073 ~ ex #8 ~ File #4129056
