Ragingbull post FWIW !!!!!
By: ghost2000
24 May 2008, 06:22 PM EDT
Msg. 12502 of 12504
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Shareholder meeting update:
In reference to this meeting, only myself, Bartel, Delikanakis (Bartel attorney), and an additional shareholder (10 shares) was present.
Bartel had in proxy more than enough shares to make himself the one and only director.
Harry Kay (former director and still has about 1 million shares) was going to be present but I believe he just forgot about the day and time (again). Harry is in this mid 80’s and was there a few weeks earlier for the meeting (wrong day and time) and was directed to the correct day and time but he failed to show.
The meeting for appointment of the director lasted a couple minutes.
However, Bartel was kind enough to discuss with me the company, antenna and the potential future of MBTT that lasted about 45 minutes.
This allowed a full conversation into and about MBTT. As most are aware, the company has some debts but currently no assets except the antenna? Where and who has the antenna is in question at times. Who is the legal owner of the antenna is in question. There is no known recorded active patient on this antenna? There is a working model, per Bae, and can be demonstrated at anytime.
Bartel with the help of Delikanakis under Nevada law look for Nevada companies that have not filed and maintained Nevada activity for many years and as a shareholder request through legal means a hearing to determine ownership. As shareholders we have the right to vote as to what is going on and if needed through legal means a meeting.
MBTT and Metaware did in fact merge. However, Kim our CFO, (IMO) miss led the management of MBTT into what Metaware could or could not do. Kim sold off most if not all of the assets of MBTT and (IMO) what is left is the antenna and our shell. Bae our previous director is involved in trying to get the antenna going with others and it’s possible through MBTT if Bartel wants to make it a go. Kim is willing to step down and return shares back to us (held from third party information) if MBTT is made a go by Bartel or others.
You have to understand, that under Nevada law, Bartel is our new director and only director with the full power to do whatever he wants. Kim, Bae and other future directors and presents directors and shareholder could have got involved and keep the current management in place by just making a phone call, showing up, or just noting were they vote would go -They choice not too.
My understanding is now they want to get involved and want to keep the antenna going along with MBTT. That would take 51% of the outstanding shares to call for another special meeting. The current total outstanding shares are just under 200 million. I have 17.5 million, Bae has 9 million, Bartel has about 30 million and Kim if requested could come up with about 62 million. I am sure that other insiders hold another 40 million shares. Who holds the 50 million shares issued after the merger I do not know. The problem is that all of the insider holders just presumed too much or just did not care.
Kim, Bae or others who have a direct connection to this antenna, MBTT and our shareholder future did not attendant this meeting. If they believed this was a joke or it was just a ruse, they did not take into consideration Nevada law when this company is being held as a public company under Nevada law.
I understand from others that have talked or emailed me, that it may take up to five million dollars to get antenna off the ground. There are potential buyers for this product. There is a working model of this antenna and can be presented and again demonstrated to any potential investor(s).
If the debts of MBTT cannot be resolved or the antenna placed into production, that will leave Bartel (IMO) with only two options: (1) bankrupt the company, (2) merger with another company.
How this will affect us I do not know. It is up to you to decide what to do for yourselves. If you have ideas that will work for the antenna, contact Bartel or his attorney or post information on this board.
Legal contact information on both has been posted on the boards or was available with the notice of shareholder meeting.
Without their additional permission, I cannot post additional contact information here other than what is public information.
I had questioned for a long time whether the merger went through and what happened and after the meeting announcement many of you given out pieces of information that was available allowed me to complete the parts that I had been missing and now give us all as much information as is available.
This is a long message but I hope it helps. If you have additional questions, I will try to help answer what ever I can.
As for my shares, with 17.5 million, I will wait it out and see what happens. Will post information as I learn it hopefully you will do the same.
Old man
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