Voices of Reason: It is apparent that your intentions here are completely honorable and in fair spirit. Having said that, I will address the points of your post.
1. I agree with you that the management experience and background of Ms. Melton, Ms. McBride-Irby and Mr. Daniel, Mrs. Daniel have proven to be excellent and above board based on my research.
2. The state of Nevada does show the company as "active" as correctly pointed out in your follow up post.
3. Ms. Melton has a long career as a banking executive which tells me she is most likely very, very, very good at picking the right people for the job ... even if they are not squeaky clean. If Robert Hines has some questionable issues in his past and Ms. Melton is comfortable with him then I would put my money on her discretion to have him on the board and I base that conclusion purely on her track record and experience in senior management - especially coming from the banking world.
I do not know her personally but I do know that based on researching her track record at JP Morgan Chase --- this information you are presenting in your post about Mr. Hines is probably not a surprise to her.
I am more than certain JP Morgan Chase taught her (over 20 years) how to thoroughly vet people she before she puts them on her team and I think it is fair to say that she probably became successful in business by giving "some" people a chance instead of being quick to judge.
In my experience, as a business owner, I feel that it is an asset to bring a few "not so perfect" people on board your ship and allow them the chance to prove themselves. That is what I did when I hired an ex-felon to be my office manager 14 years ago and she is still with me to this day and has been my most valuable asset.
I do not know if this is Ms. Melton's thinking but if she brought Robert Hines on even though she certainly uncovered his past issues (or maybe he was simply up front and honest with her about them) this CEO seems to me to be a very smart woman and I don't find myself alarmed by his presence there because I believe she has the smarts and skills to know how to maintain control. You cannot have it both ways --- either he is a bad seed who will destroy the company or he is a just a seed with a spotted past and Ms. Melton can and will manage him properly.
4. Carolyn Austin may have what you refer to as a "sweetheart" debenture but I see it this way .... if that's what the company had to do in order to raise some money to achieve success ---- the CEO seems to be very qualified in evaluating the merits of financing deals for the business. It doesn't seem fair to judge the company by the type of deal they have with a finance source. It is hard to raise money in this economy and in building a business --- sometimes you gotta do what you gotta do. I can tell you this much --- I would rather see a $25,000 investor with a 14% debenture than to see a high interest rate loan shark pulling strings over $300,000 any day.
5. Who Hines and Austin are friends with does not phase me because I learned a long time ago to NOT judge people based on who they are friends with. I am sure if you dig into anyone's closet enough we will always find an "unsavory person" or two. Voices of Reason ... are all of your friends perfect and saintly ... because if they are ... they must be very lonely people because the world is full of "flawed folks" and the "public company" world is much, much worse :-)
6. Your perceptions and opinions about the future of the company are simply that -- opinions. Your really do not know if there will be "more toxic convertible debt, and the inevitable switch in control of the company which will likely result in the price cratering after the "pump" is initiated."
You are just speculating ...so how are you able to truly draw conclusions as to what is .... as you say .... "inevitable"?
Anyway ... Voices of Reason, who knows what will happen ... but I have spent a lot of time watching One World and I believe they are on to something very, very hot and I am looking forward to seeing what the future holds.
Not pessimistically, not optimistically ---- just plain and simple ---- looking forward.
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