Replies to post #265558 on Circa Pict. & Prod. Co. Intnl Inc. (fka CPPD)

[InAnotherLife]

Speaking of VC's

"They "automatically get paid" because the common shareholders approved them supervoting rights. They controlled QBID ."

~ Interesting . Was there a NAME to the "they" that CONTROLED QBID after exercising those rights ?

"Fan supposedly "took control" post liquidation. Shareholder approval would be required for that. Seeing there was no shareholder approval or proxy, it suggests the financiers with supervoting rights appointed him.

~ So why would there be a need for ANYkind of "merger" ?
It is ALREADY "owned/controlled" .

[marketbear]

I think the POINT was that IF...IF.... they had that kind of deal with VCs, why would he have HONORED it and cut them a check? He rarely paid anyone ELSE.
Fan took control by virtue of aquiring Olsen's 53% of the stock, no vote needed for that.