Circa Pict. & Prod. Co. Intnl Inc. (fka CPPD)

[ltesprit]

Islandboyz, it's not a matter of 'opinion.' A corporation can have different classes of stock. We own a class of stock called 'non-voting'. Frank owns a class of stock called 'voting'. Why? Because he says so. He founded the company like that. And since he has 100% of the voting shares, he can do whatever he wants.

This is how he can keep awarding himself shares. And why anyone who wants to buy the channel must get his OK and can't just 'buy up all the floated shares.' Even if the floated shares were 99% of the o/s, you'd still need to buy Frank's 1% to get the voting rights.

That's why the AMEX listing is such good news. AMEX (I believe) will require that he relenquish some voting rights to the outsider commonshareholders. And will hold him to strict auditing and SEC filing timetables.