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alexbh2285

01/07/20 11:22 AM

#5093 RE: Daysinn4610 #5088

You don't get to vote as you own 0 of the super voting preferred shares. Only Jim Nixon the President/CEO/Secretary got to vote. There are 500,000 of these, Jim Nixon owns them all and they have 1000,000 votes each or 50 billion votes so your 4MM is nothing - the 50.014 billion votes from Jim Nixon was 98.51% of the voting power as of the authorized date.

It's an awful corporate governance situation, Jim Nixon has only 1.85% (14MM shares) of the economic interest (only about $4,200 at the current market cap so it doesn't matter at all to him if the stock soars or not - just as long as it stays alive from dilution and he keeps paying himself) but over 98.5% of the votes so he doesn't have to care about shareholders and there is no board for oversight.

From the PRE 14-C

What vote was obtained to approve the actions described in this information statement?


We obtained the approval of the holders of 14,000,000 issued and outstanding shares of Common Stock and the holder of 500,000 issued and outstanding shares of Series A Preferred Stock, representing approximately 98.51% of the voting securities.