Replies to post #12338 on Bitcoin Generation Inc. (BTGN)

[beentomyrasite]

like bjorn said to mcenroe - relax INOL! up

[my2Mustangs]

The answer to your question is no. The "majority shareholders" have control. I'll give you 3 guesses as to who is on the BOD.
Here is a small part of the filing in Feb. for the first A/S increase. I've changed the way it was written but NOT the words to answer your question. Read the second paragraph. There have been other filings that talked about the vote control too and the fact that Gary and Sharon can't be fired . Don't worry though, there will come a time that they will walk away just like they did at PHMB.

"In addition to the corporate purposes discussed above, the authorization of additional capital, under certain circumstances, may have an anti-takeover effect, although this is not the intent of the Board of Directors. For example, it may be possible for the Board of Directors to delay or impede a takeover or transfer of control of INOLIFE TECHNOLOGIES, INC. by causing such additional authorized shares to be issued to holders who might side with the Board in opposing a takeover bid that the Board of Directors determines is not in the best interests of INOLIFE TECHNOLOGIES, INC. and our stockholders. The increased authorized capital therefore may have the effect of discouraging unsolicited takeover attempts. By potentially discouraging initiation of any such unsolicited takeover attempts, the increased capital may limit the opportunity for INOLIFE TECHNOLOGIES, INC. stockholders to dispose of their shares at the higher price generally available in takeover attempts or that may be available under a merger proposal.

The increased authorized capital may have the effect of permitting INOLIFE TECHNOLOGIES, INC.’s current management, including the current Board of Directors, to retain its position, and place it in a better position to resist changes that stockholders may wish to make if they are dissatisfied with the conduct of INOLIFE TECHNOLOGIES, INC.’s business.

However, the Board of Directors is not aware of any attempt to take control of INOLIFE TECHNOLOGIES, INC. and the Board of Directors did not propose the increase in INOLIFE TECHNOLOGIES, INC.’s authorized capital with the intent that it be utilized as a type of anti-takeover device"

[apprenante]

And just WHO do you suppose comprises the Board of Directors?!?

I'd be willing to bet a buck that you are talking about Gary and Sharon Berthold! The only other name that I could find was Michael W. Hunter. On two separate occasions (February and May, 2011) INOL announced that Michael W. Hunter had been named to the board of directors. I wonder if he still serves in that capacity.

Apprenante

[Slojab]

Do you not know or understand how and why INOL came into existence?

The Berthold's own INOL. Not the shareholders. As they're majority shareholders.

usually there is a board of directors in a public company. I know if a ceo is not doing a good job and making the company profitable and benefiting shareholders, they will fire the ceo and get a new one to take over. Can this apply in this case?

No. This is the Pinksheets. I don't know of a single instance where an action like that has ever taken place.