I would wait to all things are worked out. There will be alot of FUD (fear, uncertainty & doubt)(crainte, incertitude et doute) here until we here from the team. The un-official word out of Quebec is the injunction was lifted on Thursday. The un-official word from Deleware is the judge ruled in favor of the shareholder vote. We know that RH Tried the raise the AS & perform a 12-1 RS. We know that paper worked has been filed (admendents) & the AS is 250 million & the RS is not happening. The team has been doing some work behind the scenes.
You are now chatting with 'Christina' with the Delaware Division of Corporations Information Center.
Christina: Hello, Please hold as I review your question.
Christina: 250,000,000
BF: ok, a few weeks back it was 600 million, & I believe the last filing was OCtober 9th
BF: Has there been any filings/admendments since then?
BF: There was also a admendmentfor a 12-1 R/S...has that changed as well?
Christina: there was a cert. of corrections filed on 11-12-2009
BF: Thank you again for your help! Was that the last filing?
Christina: Yes,
BF: thanks again...have a great day!
Christina: You are welcome.,
We know now we have a patent pending. Many on this board scoffed at that claim. Well, it is out there & it would seem, Bruno has worked hard on this patent. You must remember that this belongs to ECT. The abstracts on this patent seem solid. Read closely concerning the eyelid claims. If you have shares, you helped in funding this research project. If you are like myself, you may feel excited about this opportunity & revolutionizing product called the CRAM. You may want to but Bruno a drink in 6 months. Thank you Bruno!
All this being said, It is important to hear from the team, before all the rumors & accusations are thrown all over the place, especially here on IHUB.
I am not looking for all the answers, the final plan to market the CRAM, production schedules, LOI's or even contracts at this point. Frankly speaking, these all have to be worked out. The CRAM needs to be field tested. The team needs to examen the product & see how much work is left to do on the product. This will take some time. I would like to hear from the team & be updated on the following:
the court process (since the RH injunction in July)
the share counts
the team structure
Update on financing
Initiating/redeveloping old contacts (Robert & others)
Bruno Update
Patent Process Update
Shareholder meeting (I would be willing to host it at my business)
They need to say we are in charge & will begin the process outlined in the solicitation that we voted upon. If Guy Faucher is the guy in charge as posted, you as a shareholder can vote him out if you wish, at the shareholder meeting. We voted for the transparency, & hopefully we hear form the amigos next week! It may be a small pop for flippers, but for longs it would be the beginning of a steady rise to those who believe in the CRAM.
The sooner we hear the better. As a shareholder & one who likes to see PPS appreciation, I think you could see some buying with an updated agenda from the team.
REASONS FOR OUR SOLICITATION
We are significant stockholders of the Company. As of June 2, 2009, the mailing date in connection with the solicitation, the Committee owns in the aggregate a total of 9,917,700 shares of
Common Stock, or approximately 4% of the Common Stock outstanding. As significant stockholders of
Effective Control Transport, the Committee has a vested financial interest in the maximization of the value of the Company’s Common Stock. Our interests are aligned with the interests of all stockholders:
we have one simple goal – to maximize the value of the Common Stock for all stockholders, complete
the CRAM’s development, bring it to market, and operate the Company with honesty, competency
and transparency.
Transparency. Accountability. Competency. It is Time for a True Change!
The ECT Recovery Committee has a plan to right the ship and put the Company back on course
towards transparency, accountability and competency.
In light of the depth of our past experience, we are uniquely positioned to help turn Effective
Control Transport around. We will do everything within our power to save the Company that we worked
so hard to build during our tenure. With your support and a lot of hard work by a passionate and dedicated
team, we are committed to complete the development of the CRAM and bring it to market so that it can
start saving lives!
We have nominated five highly qualified nominees who will constitute the entire Board
if the Board Removal Proposal and Election Proposal are approved by stockholders. The Nominees if
elected will aggressively pursue the following initiatives designed to restore stockholder value.
- Appoint a new executive management team;
- Apply modern principles of corporate governance;
- Obtain bridge financing;
- Complete CRAM testing and development;
-Restore relations with clients in the transportation industry based on mutual trust;
- Elaborate a long term plan; and
-Convene a shareholder meeting.
The Nominees understand that, if elected as directors of Effective Control Transport, each of
them will have an obligation under Delaware law to discharge his duties as a director in good faith,
consistent with his fiduciary duties to the Company and the stockholders.
There can be no assurance that the actions the Nominees intend to take as described above will be
implemented if they are elected or that the election of the Nominees will improve the Company’s business
or otherwise enhance stockholder value. Your vote to elect the Nominees does not constitute a vote in
favor of the Committee’s value-enhancing plans for Effective Control Transport. Your vote for the
Removal Proposal and to elect the Nominees will have the legal effect of replacing five incumbent
directors of Effective Control Transport with the Nominees. There can be no assurance that stockholder
value will be maximized as a result of this solicitation or the election of the Nominees.
RELEASE THE UPDATE!
