I have tried unsuccessfully to contact Mr Toledo through Busca Corp.
I have had correspondence with him in the past and he always left me with a good impression.
It's my feeling that Mr Toledo, due to the misdeads of Bibiyan, does not hold a controlling interest of SHGY as he was led to believe when entering the agreement to purchase. Now that it is apparently 20 mil shares outstanding, if he were to roll Busca into SHGY, he would be a minority shareholder like the rest of us.
So what's fair?
Busca Corp was built out of the SHGY, no matter how crummy that base was, and is therefore tied to SHGY. A public corporation can't for a spin-off without compensating the shareholders.
Mr Toledo has invested more time and money than any of us towards the development of Busca Corp and should be rewarded for the success propotionately.
In my view, Busca should be rolled into the SHGY shell, possibly a reverse split to shrink the number of shares issued, a new issuance of shares to Toledo and his large cash investor allowing them majority control.
I don't know if such a proposal is possible because there it would take a majority of shareholders to approve something like this.
Without any response from Mr Toledo, we'll be left to wonder what's happening and grow angrier that we hold worthless shares in a successful business.
Over time this will lead to a class action suit against Busca Corp, especially as the business becomes more successful and continues to develop.
That's my rambling thoughts on the situation. I think Toledo had planned on using SHGY as a vehicle to Nasdaq, but never really had control of it. Now he has a successful business that has shareholders looking to be part of it and no way to bring them together without losing his, and his investors share.
