To the best of my recollection, the CEO of EXBX told me EXBX shares were not going to be split, but my concerns were, what would happen to EXBX stock in regards to it trading on the OTC Pink Sheets?
To the best of my recollection, the CEO of EXBX told me EXBX shares would continue to trade on the OTC Pink Sheets, just as they were, along with, and as well as, the new PDX shares of stock that EXBX shareholders were to receive.
All of that, at that time, was great news to me of course; however, after thinking about this some more, I thought it would be best to get those representations (that the CEO made) in writing because the primary question then became, how do EXBX shares continue to trade on the OTC Pink Sheets, as well as the PDX shares, after this proposed reverse merger deal? I came to the conclusion that EXBX shares would no longer trade on the OTC Pink Sheets, that the new PDX shares of stock would take EXBX's "spot" on the Pink Sheets.
Whether that conclusion was right or wrong, I did what I thought a shareholder should do, I brought these questions and concerns to the company (EXBX) CEO well before I engaged any attorneys.
The CEO absolutely stated, not only was he aware of shareholder's concerns, but that he would answer and address those concerns before Feb 28th (the date of the proposed SHARE EXCHANGE AGREEMENT closing).
Understand Mr. Owl, the last thing I wanted was to have my EXBX shares "booted" off the OTC Pink Sheets, just to see my proposed 0.25% fraction of "PDX shares to take EXBX's place" so to speak.
Also understand Mr. Owl, the last thing I wanted to do is mess up a good deal for EXBX shareholders, if indeed this was a good deal for EXBX shareholders.
When the company repeatedly failed to address these concerns, I seeked counsel for help. Before any suit was filed, the company CEO and I came to an agreement over the phone to allow the attorneys to address all the concerns. This was sufficient for me at that time.
To the best of my knowledge, my attorney reached out to Exobox's attorney before any lawsuit was filed to see if indeed this was a good deal for shareholders. Appearently, my attorney was unable to ascertain whether or not this was truly a good deal for shareholders. In addition, my attorney was unable to get all of my concerns addressed.
So to protect my shareholder interests in EXBX, my attorney and I filed suit one day prior to the date of the proposed SHARE EXCHANGE AGREEMENT closing.
Now of course, if Exobox the company wants to still address those concerns, as well as some others, I would think the matter could be resolved amicably.
As of right now, I'm of the opinion EXBX doesn't want to "provide me an accounting and inspection of Exobox's books and records". Again that's just my opinion right now.
Now that the Courts are involved, I am extremely and incredibly comfortable that, one way or the other, my shareholder concerns will be addressed. I believe there is a Court Order now that states Exobox is to provide an accounting and inspection of their books and records.
If the accounting and inspection of the company's books and records addresses all my shareholder concerns, then I don't believe there would be any more issues. That's just my opinion right now.
Hopefully, Exobox will allow this accounting and inspection of their books and records, for the benefit of all EXBX shareholders.
GO EXBX !!!!
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