BOD
Exact same playbook--granting yourself super voting shares and doing as you please without the messiness of shareholder meetings and votes.
The lawsuit settlement has eaten up all of the available Authorized shares. Dean has to raise Authorized to keep paying the settlement, raise new funds, and pay the $1.2 million winter loan.
But the problem is-- there's a lawsuit challenging the validity of the last shareholder action. There's substantial dout that Dean owns what he claims to own. I would be willing to bet Dean's lawyer (Farkas) has advised him that EVERY movement of the share structure has huge ramifications both in terms of the lawsuits and in terms of those who are closely monitoring the allegations of a share structure that changed via deceptive means.
In other words Dean is in a pickle and shareholders are feeling his pain.
As for Vukesich's suit-- it's a shot. Shareholders have been completely disposed of at this point. There is no hope of Dean himself righting the ship. There are too many interests in front of shareholder interests and whose stakes are guaranteed by contract in a way that shareholders aren't.
Suing Dean has a low probablitity of success. Not suing Dean has ZERO probablility of shareholder success.
I mean seriously, Dean put himself in a situation where he is trying to raise funds by either selling restricted shares at 4 times current market value (guaranteeing a loss the moment you turn over your money) or selling 7% convert notes at a time when a 1 tick movement on the stock is more than 7%.
MENSA guys and their too complicated for the common man's plans.
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