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Saturday, November 05, 2011 7:43:54 PM
Btw, shareholder meetings MUST by law occur at least annually. The fact that AFT has avoided this LEGAL requirement for so long shocks me.
Also, I have seen no mention of a Board of Directors to protect the interests of the shareholders. We as shareholders elect and remove the members of the Board of Directors!
In spite of AFT's recent publishing of information, I am still very concerned with the overall management of this company. There is still a substantial amount of corrective actions that needs to take place to make this company even minimally compliant.
AFT must not forget that as shareholders we have the legal ability to initiate an action of dissolution within the Michigan courts if we feel this company is being mismanaged. I would like to see this company survive, but only if AFT is vigilant in remaining compliant.
Also, I would very much like to get my hands on the articles of incorporation for this company along with its by laws. I will post them as soon as I get copies from Michigan.
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