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es1

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Alias Born 07/13/2009

es1

Re: 3hpz28 post# 53005

Wednesday, 09/18/2013 1:25:58 PM

Wednesday, September 18, 2013 1:25:58 PM

Post# of 53259
That is the problem. jorge needs to sell the shell but the SEC has restricted him from functioning in a public company. So he is not allowed to sell the shell. Catch 22.
If he has lost his shares there is a majority shareholder(s) out there somewhere. The company could have a shareholders meeting set up by the majority shareholder(s) and elect a CEO to sell the shell but it would still be needing a motivation.
That majority needs to spend the money to have the meeting but they probably dont know they are the majority holder.

I dont know enough about the rules in a convoluted situation like this to know if the above is even possible but the TA would be able to tell us who the majority shareholder is if we had a court order I would think.

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