Replies to post #69418 on All American Pet Company Inc (AAPT)

[Pitt Bully]

Ducking investors is a very bad sign, investors deserve much more respect than that. I hope a proxy vote happens and the company gets directors that actually represent the shareholders best interests, not their personal interests.

[Pinky Buster]

Can anyone name a company that had BOD voted out by proxy down here in OTC Land ? Not sure if any has happened in penny stocks arena.
We know votes can be taken in most real exchange stocks.

Maybe down here when owners get caught with their hands in the cookie jar, they make excuses to shareholders & have no effect on them unless the authorities step in.

Lured, if they keep living off the investors the may not have a choice but to step aside. Investors will not tolerate their ways anymore. They could be forced out. Proxy vote is a way to remove them. .The past doesn't equal the future. She doesn't even respond to investors who gave her a ton of money.

Definition of 'Proxy'

1. An agent legally authorized to act on behalf of another party. Shareholders not attending a company's annual meeting may choose to vote their shares by proxy by allowing someone else to cast votes on their behalf.

2. A formal power of attorney document that may be signed by a shareholder to authorize another shareholder, a representative of the shareholder or the company's management, to vote on behalf of the shareholder at the annual meeting. Proxy statements must be filed with regulatory authorities (the Securities and Exchange Commission in the U.S.) on an annual basis prior to the company's annual meeting. Proxy documents are meant to provide shareholders with the information necessary to make informed votes on issues important to the company's performance. A proxy is known to offer shareholders and prospective investors tremendous insight into a company's governance as well as a glance at the way that a company's management operates.

Investopedia explains 'Proxy'

1. Management often encourages shareholders to vote by proxy so that ownership interests are fully represented even if shareholders are unable to attend the company's annual meetings in person.

2. The proxy discloses important information about issues to be discussed at an annual meeting, lists the qualifications of management and board members, serves as a ballot for elections to the board of directors, lists the largest shareholders of a company's stock and provides detailed information about executive compensation.
http://www.investopedia.com/terms/p/proxy.asp

Investopedia explains 'Shareholder'

Unlike the owners of sole proprietorships or partnerships, corporate shareholders are not personally liable for the company’s debts and other obligations. Also, corporate shareholders do not play a major role in running the company. The board of directors and executive management perform that function. Common stockholders are, however, able to vote on corporate matters, such as who sits on the board of directors and whether a proposed merger should go through (preferred stockholders usually do not have voting rights). They also benefit when the company performs well and its share price increases, and they have the right to trade their shares on a stock exchange, which makes stock a highly liquid investment.

Shareholders do have rights, which are defined in the corporation’s charter and bylaws. They can inspect the company’s books and records, sue the corporation for misdeeds of the directors and officers, and if the company liquidates, they have a right to a share of the proceeds. However, creditors, bondholders and preferred stockholders have precedence over common stockholders in a liquidation. Shareholders also have a right to receive a portion of any dividends the company declares.

Shareholders can attend the corporation’s annual meeting to learn about the company’s performance, vote on who sits on the board of directors and other matters. They can also listen to the meeting via conference call and vote by proxy through the mail or online. To learn more about a company’s policies toward shareholders, consult the company’s corporate governance policies.
http://www.investopedia.com/terms/s/shareholder.asp

Seriously doubt voting by proxy really applies in OTC
companies, but I may be wrong, maybe some of you may know.

GL