Sunday, February 23, 2014 9:50:42 AM
You would think so, wouldn't you?
That assumes that they've just overlooked the requirement. However, given that they have been sued a number of times, presumably incurring significant legal fees (take a look at the issuances for legal and consulting fees in the last 10-K if you get a chance), it would seem foolish to try to push it off as a simple oversight.
(See page 39 of the Complaint in Case 1:13-cv-01777, US District Court, Colorado.)
The governing section of the Nevada Revised Statutes says, among other things:
NRS 78.105 Maintenance of records at registered office; inspection and copying of records; civil liability; penalties.
1. A corporation shall keep a copy of the following records at its registered office:
(a) A copy certified by the Secretary of State of its articles of incorporation, and all amendments thereto;
(b) A copy certified by an officer of the corporation of its bylaws and all amendments thereto; and
(c) A stock ledger or a duplicate stock ledger, revised annually, containing the names, alphabetically arranged, of all persons who are stockholders of the corporation, showing their places of residence, if known, and the number of shares held by them respectively. In lieu of the stock ledger or duplicate stock ledger, the corporation may keep a statement setting out the name of the custodian of the stock ledger or duplicate stock ledger, and the present and complete mailing or street address where the stock ledger or duplicate stock ledger specified in this section is kept.
.....
3. Any person who has been a stockholder of record of a corporation for at least 6 months immediately preceding the demand, or any person holding, or thereunto authorized in writing by the holders of, at least 5 percent of all of its outstanding shares, upon at least 5 days’ written demand is entitled to inspect in person or by agent or attorney, during usual business hours, the records required by subsection 1 and make copies therefrom.
Easily corrected? Only if they want to.
I don't know why they didn't file them with the SEC in the first place, but my pure WAG as to why they have refused to provide them to Yidam, etc. is that there is either some process called for in the By-Laws that they have "not attended to properly" or some stock movement in the stock ledger that they would rather keep unpublished. Otherwise that would be easily corrected as well.
FYI:
http://www.sec.gov/Archives/edgar/data/1379006/000114420413053084/v356235_10k.htm
p.76
That assumes that they've just overlooked the requirement. However, given that they have been sued a number of times, presumably incurring significant legal fees (take a look at the issuances for legal and consulting fees in the last 10-K if you get a chance), it would seem foolish to try to push it off as a simple oversight.
(See page 39 of the Complaint in Case 1:13-cv-01777, US District Court, Colorado.)
The governing section of the Nevada Revised Statutes says, among other things:
NRS 78.105 Maintenance of records at registered office; inspection and copying of records; civil liability; penalties.
1. A corporation shall keep a copy of the following records at its registered office:
(a) A copy certified by the Secretary of State of its articles of incorporation, and all amendments thereto;
(b) A copy certified by an officer of the corporation of its bylaws and all amendments thereto; and
(c) A stock ledger or a duplicate stock ledger, revised annually, containing the names, alphabetically arranged, of all persons who are stockholders of the corporation, showing their places of residence, if known, and the number of shares held by them respectively. In lieu of the stock ledger or duplicate stock ledger, the corporation may keep a statement setting out the name of the custodian of the stock ledger or duplicate stock ledger, and the present and complete mailing or street address where the stock ledger or duplicate stock ledger specified in this section is kept.
.....
3. Any person who has been a stockholder of record of a corporation for at least 6 months immediately preceding the demand, or any person holding, or thereunto authorized in writing by the holders of, at least 5 percent of all of its outstanding shares, upon at least 5 days’ written demand is entitled to inspect in person or by agent or attorney, during usual business hours, the records required by subsection 1 and make copies therefrom.
Easily corrected? Only if they want to.
I don't know why they didn't file them with the SEC in the first place, but my pure WAG as to why they have refused to provide them to Yidam, etc. is that there is either some process called for in the By-Laws that they have "not attended to properly" or some stock movement in the stock ledger that they would rather keep unpublished. Otherwise that would be easily corrected as well.
FYI:
http://www.sec.gov/Archives/edgar/data/1379006/000114420413053084/v356235_10k.htm
p.76
“I have had a wonderful time but this wasn't it.”
..........Groucho
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