Hard to tell but this is pretty straight forward speech here.
The mandatory settlement conference did not yield an agreement with Calasse, however we anticipate that $WNFT will proceed with a business plan over the next several weeks which will include an acquisition(s). This statement should not be construed as a guarantee for success.
George can do what ever he pleases -as far as- what he decides to acquire/bring into the WNFT shell while the new Calasse suit, and the current appeal unfold ... too many scenarios and possibilities to list really... It all up to Mr. Sharp really.
WNFT is still an SEC reporting - Fully audited company... and that's a good thing.
So I talked to my neighbor/attorney regarding Mr Sharp's tweet.
$WNFT preparing litigation against Calasse for breach of fiduciary duty
Short update.$GVSI waiting for the judge to sign the order barring claims$SRNW preparing documents for the forward split$WNFT preparing litigation against Calasse for breach of fiduciary duty$FORW shhhhhhhhhhh!!!!!
— George Sharp - Advocate for truth in the OTC (@GeorgeASharp) September 20, 2022
He says that this is basically a leverage tactic by Sharp. It does NOT have anything to do with the appeal directly and would not (can not) be presented before the appellant court itself. It will most likely be filed through a district court (again, seperate from the actual appeal case).
If the case is pled properly, it can lead to treble damages which could very well bankrupt Calasse. Due to the potentially catastrophic consequences of the suit, (in theory) Calasse might likely develop a case of "Hey, you back off and I'll back off" and have no desire to pursue the appeal any further (and hopefully drop it).
... Again, My guys words - "Sharp is exercising leverage" with the type of potential consequences (for Calasse) that might cause him to stand down. He said it was reasonable to think that Calasse would/should hold this type of legal action quite seriously as it poses a formidable threat.
So In short, he stated that this was a pretty savvy move on Sharp's part and that the negative consequences for Calasse could run very deep.
As far as timelines are concerned, the threat of such a suit may cause Calasse to back off immediately... If the suit actually moves forward, it could take a while.... So its anyones guess really.
Predicting the timelines for "preparing litigation" and or court dates moving forward if Calsse doesn't back down would be similar to throwing a plastic grocery bag off of a tall building and trying to predict where it would land.
Thats the best that I can relay it... I am not an attorney and i am not giving legal advice.... I am simply relaying opinions given to me by a professional that I have known years and trust very much.