Diarch, three examples of illegal acts immediately come to mind.
1. NEOM doesn't operate within legal limits for disclosure as established by the SEC.
2. NEOM violates IRS rules by classifying LM as an independent contractor, and
3. NEOM doesn't comply with Delaware law because it allows conversions under par value.
The latest illegal issue is in the beneficial ownership table in the proxy that omits the actual number of votes that the Series C holders are entitled to. I am sure it is not 4,840 votes as the table might imply; it could be as many as 13 billion votes if all of the Series C shares can vote, but my guess is that we will see at least 1.5 billion votes from the Series C shares held by YA "friends".
I do feel sorry for any investors that may travel to Colorado for the meeting only to find that (i) there is no room to accommodate them in the tiny office where NEOM is holding the meeting, (ii) no new information will be provided to investors, and (iii) to find that their vote didn't matter since YA had it all rigged from the start.
I would love to see SEC enforcement get wind of NEOM. IMO, the result would be a permanent ban to prevent LM, the rest of the Board, and the Colonel from ever being an officer or director of a public company. Also, IMO there could even be some jail time but my guess is that LM will flee the country.
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