TheLaserGuy,
That shareholders meeting was the first and was April 2007. This is a post I made after the meeting.
Posted by: imgunnaretire Date: Tuesday, April 24, 2007 3:10:38 PM
In reply to: K-9 who wrote msg# 1766 Post # of 29177
It was good to see you also Big Dawg!!!
Attended the Shareholders Meeting today and have collected some of my thoughts:
I left the meeting with a very positive impression of the management team and the direction the company is headed in. After acknowledging the Directors and inventors of the technology, Dillon started by explaining recent Form 4 and Form 5 filings and the negative spin that has been posted on the message boards. He went on to say that the Directors have not been receiving compensation for the last several months and that Dillon was even personally financing some of the companies operations during this time period interest free. The sales that had been made represented less than 1/10th of 1% of shares. My impression was that the sales were necessary while they worked to secure financing for continuing operation and product development.
They continued by stating that all of their decisions are being made with the best interest of the shareholders in mind. This point was made several times during the meeting.
They discussed the 8-K that was filed this morning, the Letter of Intent (“LOI”) with Starboard Capital, Inc., an investment banking firm located in Satellite Beach, Florida, for funding up to $25 million to Exobox for (i) two (2) strategic and economic acquisitions of entities previously identified by Exobox, (ii) operating and marketing capital and (iii) the funding necessary for Exobox to complete development, coding and release of the Company’s initial product line in collaboration with OSR Open Systems Resources, Inc. One of the acquisitions was Mentisys, Inc., a privately held Atlanta-based software company. The second major acquisition was pending and they were not at liberty to discuss it at this time. They indicated that the anticipated funding would be coming in during the second quarter 2007 (April, May, June). They stated that the funding would qualify them to pursue an application to be listed on the AMEX and that the AMEX was also interested in EXOBOX. They indicated their willingness to explore other exchanges and to make a decision based on the best interest of the company and their loyal shareholders. As things develop we will be notified via 8-K filings with Edgar.
They said to feel free to call the office and discuss information that was disclosed in the 8-K, but they are limited to what has been disclosed. My impression was that there has been and is a lot going on behind the scene that they are not at liberty to discuss.
Overall everyone seemed very pleased by what they heard and the tone of the meeting. By the end of the meeting we were trading around $1.05. This is all I have to say at this time, I will share more as I remember more details. I’m sure others will be posting their impressions of the meeting.
Take care,
Imgunnaretire
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