Exobox Technologies Corp (EXBX)

[TheLaserGuy]

It seems like a majority of the shareholders who post on the IHUB are not happy with the way this company has been run.

I am furious over the oil and gas well fiasco as well as the 17 million plus dollars of funding that Dillon plowed through without spending a dime on coding the products related to the patents.

Doesn't it smell a little fishy that the whole board, including Scott Copeland, the co founder of the company, got booted off the board when the oil and gas well fiasco went through? ( http://ih.advfn.com/p.php?pid=nmona&article=40039399&symbol=EXBX )

As part of the consummation of the purchase of the Assets, Messrs. Scott Copeland, Richard Evans and Kevin Regan have resigned from the board of directors of the Company without disagreement. Mr. Michael Studdard will remain on the board and has been appointed interim-Chairman of the Board and Chief Executive Officer.

I did a little checking into the regulations, and consulted an attorney, and it turns out there are a few simple requirements to be able to present a shareholder proposition for a vote of the shareholders.

1) They have to have purchased at least $2000.00 worth of shares
2) The must hold 1% of the companies outstanding shares
3) They must have held those shares for one year.

There are several people in the restaurant business here in Houston that I think meet all the requirements.

What I am proposing is that we quit sitting back and taking it in the shorts from Dillon and Skipper and vote in a new board, which will have the full approval of the shareholders, and be independent, not having to answer to the majority shareholders that have stolen this company blind.

Dillon is getting something like 360 thousand shares from the treasury stores every month ( which is detailed in every Quarterly report). And Skipper has 30 or 50 million shares for having worthless oil wells returned to him.


Lets do an analogy of the oil deal.
A guy shows you a picture of a Ferrari and says it is worth a million dollars. You buy the car.
Later you find out that it WOULD be a really nice Ferrari, worth a million dollars, if it had an engine, transmission, steering column, seats and computer controls. To upgrade the car will only take the investment of another 2 million dollars, which you just don't have.

So you say hey guy, this deal was not what it looked like, how bout taking the car back. The guy says sure, but I'll need $900,000.00 along with the car to make the deal work.

That's right Sam got the wells back and 30 million shares of stock worth $900,000.00 at the time of the return of the wells.

We brought on Kampa, with a lifetime 350 batting average, then handcuffed him and sent him to the plate. No big surprise, but with every investor he brought in, he went down without taking a single swing.

His exit letter spoke of the cancers of Dillon and Skipper, which he referred to: "As I became more involved with the company and doing my own due diligence it became readily clear to me that the company had significant obstacles to raise the needed funds particularly based on the legacy issues that existed related to debt and equity structure. The acquisition of the oil and gas assets and related aspects to the deal further complicated our task."


Lets put an end to the continual downward spiral of this stock while we still can.

We no longer have an office, just a cubbyhole at Skipper's place.

Just how much further can we sink?

Let's put in a shareholder resolution and oust the board and replace it with one that will work for us, not answer to Dillon and Skipper.

I assure you we could throw a dart into a group of homeless people and select a better board.

But maybe I am dreaming.

Maybe I am really a pissed off minority, and have no idea what is really happening.

If you got to the end of this message and are willing to support a shareholder initiative to replace the board, address the lopsided equity distribution, and rescind the multi year termination agreements that are bleeding this company dry, post here, or contact me at my email [e-mail]