Replies to post #125 on Tibet Pharmaceuticals, Inc. (TBET)

[realfast95]

I believe there is a discussion on the Yahoo Message Board indicating that this buyout deal would not need shareholder approval because the CEO owns 100% the subsidiary in a VIE structure.
My posts reference means that their is an agreement that he can't do that without TBET stockholder approval

So a second discussion that the CEO could band together with the prior CEO and group of 8 that took the company into the IPO and get +50% vote of TBET stockholders and again not need a proxy vote by all stockholders.

in the 6/10/2011 8K when the current CEO took over, the group disbanded.

Can he form a +50% group? Does the original group they still own the stock? That's the unanswered question.
Until we see something filed, then the default is that the CEO needs a majority of stockholders to agree with a proxy vote.