So here is what has me puzzeled. Why would SNK voluntarily agree to lock up their shares for five years?????? That is a long time.
Especially if they were responsible for the P&D promotional campaign Carl accused them of. This showed their intent was to never hold the stock in the first place and most likely showed they never believed in VSPC or Carl either.
So what made them agree to a 5 year lock up. They alread had posession of the shares. Baron never said that any of it was illegal???
Do anyone know if a lock up agreement actually requires a public filing with the SEC? because if it does one was never done that I am aware of.
Hedge as you have point out SNK has gone from 21% ownership to less than 5%... This means they are no longer required to report their stock activities as a 5% majority stock holder. And this also means we will likely not see a filing on Monday if they start selling shares.
But here is what is bothering me, there is no proof that SNK actually locked up the shares other than what Carl filed, and Carl really had no wieght to force them to lock up the share that I am aware of. Maybe he threatened a court action? But the lack of existence of an agreement filed with the SEC showing a lock up actually exist that has both Carl’s and SNK signatures on it bothers me?????
The funny thing is in PDF reports done by Green Barron they tout the agreement as if VSPC has a major investor that believes in them and to show there strong belief they have locked up their shares.. this is very misleading to newcomers who don't dig to find the real reason for the lock up. So in reality Carl has used the bad situation to pump the company even more.
I am really starting to wonder if these shares have already be sold or we just saw them being sold during this PR program...
Think about it, there are no docs on the lock up agreement filed with the SEC, so this is a hand shake deal. So how do we know Carl didn't let them out of the lock up early or if it ever really existed in the first place.. Wouldn't be the first time Carl seems to have made thing up.
If you question wether Carl knew what SNK was doing in the first place and the played dumb to save himself, you have to wonder if the lock up is even real.
