June 13th will be interesting to say the least. Now, bound by the laws of the State of Florida, (if this was actually filed that is) Hennry must actually do something. I'm of the opimion that this will also create an enormous splat when it hits the floor....
"Subsequent to our Board of Directors' approval of the Business Cooperation Agreement, the holders of the majority of the outstanding shares of our Corporation gave us their written consent to ratify said Business Cooperation Agreement on May 23, 2011. Therefore, following the expiration of the twenty-day (20) period mandated by Rule 14c and the provisions of Chapter 607 of the Florida Statutes, our Corporation may close said Business Cooperation Agreement between the Corporation and Rerun Recovery, Inc"
Key word..... "may"
Considering the balance sheet, which does not indicate cash available assets of $400k, and certainly not $3.5 M for start-up costs..I'm intrigued as to how he can pull this off.
Later in the Proxy statement there is talk of the available shares and share retirement which flys in the face of a prior paragraph indicating that Re-Run would receive 150M (!) shares. How's that going to work ladies and gents.. ? .... yeah the big D as in dillution... but never mind... it ain't going to happen so our worthless shares are safe.
GLT Us A
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