Exobox Technologies Corp (EXBX)

[AskMrOwl]

Settlement

Hi Rat,

I don't think that these transactions are going to be able to be unwound, at least not in a timely fashion.

It is going to continue to draw substantial resources to prosecute.

Yes, crimes may have been committed.

Right now, the company is basically priced as a shell.

Given this, the best course of action may be to settle and move forward expeditiously.

Some kind of settlement that would be favorable to the shareholders would be something like everyone in the suit returning all shares to the company and dropping any claims on the company (such as unpaid salary, fees, etc.) and turning over management control to the major shareholders so that a new BOD can be installed. In addition, those named in the suit should agree to work with the new team and the legal process toward unwinding past transactions at no cost to the company. This would give you the best of everything and allow you to immediately move the company forward with at least some new technology while you continue to work on getting the old technology back. You may never be able to get the old technology back so moving forward in the interim is in everyone's best interest.