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harr449

01/12/12 8:35 AM

#31686 RE: Deano361 #31683

Restricted Shares: 365,572,645 December 29, 2011

Are management shares (~180M) part of this amount?

sawdin

01/12/12 8:59 AM

#31687 RE: Deano361 #31683

Theoretically, they can attempt to dump shares. Practically, not very likely. As mentioned in the original letter that I released, there were, and still are, on-going negotiations regarding the termination of the original agreement that was the means for bringing them into Michelex. Please note that I am not directly involved in those negotiations as I was not party to the original agreement (again, as noted in the letter that was released). IMO, if they dump their shares, it would seem that a negotiated settlement would not be possible and that the only recourse available to Michelex, its shareholders and individuals who were a party to the original agreement would be to commence legal actions against them. I doubt they want to go to court, especially over shares that are basically worthless.