Replies to Post #2440 onEmperial Americas, Inc. (fka TEXX)

Replies to #2440 on Emperial Americas, Inc. (fka TEXX)

02/22/15 2:29 PM

#2441 RE: Renee #2440

Shareholders should contact the company and pressure the Mgmt to file their delinquent Financials because ALL shareholders would be wiped out IF the SEC suspends the stock.

Some of us will be at the March 2nd hearing in Tampa about a case that also involves DKTS. Management, namely Bruce Klein, it is believed, committed a fraud on the Court, with the help of Craig Huffman. A complaint with the Florida Bar was filed by me against Huffman and Huffman told the Bar, without actually admitting it, that he filed a false affidavit in the aforementioned case, and that is in part, what the hearing is about March 2nd.

TEXX is dissolved. The articles state that upon being dissolved the assets are to be divided among the shareholders. Preferred shareholders get first dibs, but there are no known preferred holders. Huffman and Klein need to figure out how they can return assets to the corporation that they wrongfully took.

Klein and Huffman tried twice to have Alonzo Pierce removed as CEO because according to the complaint, not filing would do harm to the company. They were never able to removed him via the courts, but they claimed a majority of shareholders removed Alonzo in March 2013.

Anyway, it isn't likely management has any interest in salvaging the company. They seem to wish it would die. They certainly did all they could to kill it.

loanranger

02/23/15 8:08 AM

#2442 RE: Renee #2440

"Shareholders should contact the company and pressure the Mgmt to file their delinquent Financials because ALL shareholders would be wiped out IF the SEC suspends the stock."

Please clarify something for me. I understand that the history is that 99.99999% of the stocks that are suspended "will have their stock registrations revoked under DEFAULT or other Admin Law Judge reasons when the delinquent Financials are not filed as ordered by the SEC. Stocks in this category will remain on the Grey Sheets until the SEC Admin Law Judge revokes the stock registration".

I understand that, from a practical standpoint, the companies in question are beyond repair, but....
Does the revocation of a stock's registration prevent the private exchange of that stock? Can a shareholder that has, or privately buys, a majority of the company's shares control and operate the company? Or does the revocation of the registration act to effectively dissolve any ownership rights in the company?