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Re: pseeker post# 3604

Wednesday, 05/26/2010 3:16:19 PM

Wednesday, May 26, 2010 3:16:19 PM

Post# of 40315
Pseeker, appealing to your expansive knowledge on all matters pertaining to young upstart companies, could you please elucidate for us the meaning of this Freestone posting (shareholders meeting notification):
http://ih.advfn.com/p.php?pid=nmona&article=42950494&symbol=NB%5EFSNR

This notification from the company states:
**********
NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

Freestone Resources, Inc., a Nevada corporation, will hold its Annual Meeting of Stockholders at 325 N. St. Paul St., Ste. 1350 Dallas, TX 75201 on June 22, 2010. We are holding the meeting for the following purposes:

1) To elect members of the Board of Directors, whose terms are described in this proxy statement;

2) To amend our Articles of Incorporation to increase our authorized common stock from one hundred (100) million authorized shares to two hundred (200) million authorized shares;

3) To transact such other business as may properly come before the meeting and any postponement or adjournment thereof.
**********
But in your iHub post #3604 you said that Freestone stated this:

"On February 19, 2010, a majority of the stockholders of Freestone Resources, Inc. (the "Company") approved a proposal to grant the Company's Board of Directors authority to amend the Company's articles of incorporation to increase the authorized common stock from one hundred (100) million to two hundred (200) million shares. The approved proposal provides the Board of Directors with the authority, in its sole discretion and without further action by shareholders, to increase the authorized shares of common stock as so described at any time prior to the next Annual Meeting of Stockholders. The effective date of the Authorized Share Amendment was February 19, 2010. "

Could you please site the source for your excerpt? I was a shareholder on 19 Feb 2010 and was never notified of this meeting, although I bought my first shares in the 3rd or 4th quarter of 2009, so perhaps I was not yet qualified to attend this meeting.

Even so, this directly conflicts with the most recent shareholder meeting notice (cited at the top).

We look forward to your enlightening explanation. If the company already had authorization from shareholders to increase the authorized shares to 200 million, what's the story behind the recent shareholder's meeting notification? FSNR skulduggery, should I suppose?

Fill us in, please.

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