Who approved this merger and name change? Did anyone call for a special meeting of the shareholders? Now if Iequity owns 60%, they can sign a written consent. But since the largest shareholder listed is 5.5 percent, how did they legally solicit proxies without calling a meeting as provided for by DGCL?
Who approved this, who solicited proxies? Who did not follow the law. This will be asked by FINRA and the SEC to ensure the issuer and the potentially new issuer complied with DGCL. If the commission deems the issuer failed to comply with DGCL, they will deem the action invalid, and SKTO will have to start all over.
Since the largest shareholder is at only 5.5%, SKTO will need at least 10 shareholders. Who did the soliciting of proxies.
The unwritten rule is 5 before solicitation begins.
Sounds like a false alarm here.
Finra requires notarized copies of all the signatures on the written consent, SEC does not. But we will make sure the SEC asks for the notarized signatures to ensure nobody forged any documents.
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