Replies to Post #64034 onIndocan Resources Inc. (IDCN)

Replies to #64034 on Indocan Resources Inc. (IDCN)

12/07/11 12:58 PM

#64039 RE: space1230 #64034

Space - while we agree on a few things, there are a few we do not agree on. Obviously the IRO v. JRB situation is one.

if JRB was mandated to return over control to majority

A couple things that should be pointed out - again - is that there is no way to obtain a majority of shares while the corporation is formed in Wyoming. As per state law there is an unlimited (literally) number of shares that can be issued. At any point should any individual or group of shareholders even approach a majority, the "board" simply can issue more shares (either to a public float via T/A or privately held). Furthermore, since there are no current, reliable float figures no one knows what a majority even means.

A second issue - that can easily explain the recent changes we witnessed and (perhaps mistakenly) took as a sale of the shell is that Wyoming is one of those states where you can appoint a nominee. The President, Secretary, Treasurer and Director(s) can all be held by that single nominee with the Vice President (the real owner of the company) as an unlisted (by state law) position. Numerous companies and attorneys offer this service. I did a quick Google search and this was one of the first hits - read these two pages:

http://wyomingcompanies.com/why_wyoming.php

http://wyomingcompanies.com/prices.php

So you can see it would be entirely possible, and in fact extremely easy, to turn over ownership and get yourself completely off the paperwork - even with complete attorney client privilege to both remain anonymous and to protect yourself and your assets.

The more I look into the filings the more I believe this is what JRB has done. Sure, it is *possible* he sold it, but I have yet to see any evidence of that short of what he posted on his own web site - and even that begs the question, "Why update the web site at all?"