Replies to post #671 on Kentucky Energy (fka QMIN)

[binzur]

I saw this coming in January. The real fishy thing is when Eugene gave himself a special class of voting power preferred stock. He apparently personally guaranteed a company loan and the company defaulted on that loan. As a one person board after he gave himself the voting power preferred he called for a shareholder vote to change the A/S and also gave himself sole power to raise A/S again, R/S at any time WITHOUT SHAREHOLDER APPROVAL!!! So he gave himself voting majority and then authorized himself total power and removed the shareholders from all decisions in the company. I found it difficult to believe that this was legal when it was done! Still think that it wasn't legal!
GLTY
Binzur