Replies to post #11962 on Petron Energy II Inc (fka PEII)

[swimom]

Shareholders don't need to approve. The SEC would pave the way but Floyd Smith controls the business decisions. His is the only PEII vote needed.

[nazulya]

udre, why do you think I have been screaming my lungs off. The organizational structure of this company is so no matter how many shares outstanding or authorized 10, 15, 100 billion Floyd Smith the CEO still owns 51% of all preferred and no shareholders can't vote or anything, Floyd Smith himself makes all decisions without anything since he owns that 51%. And guess what if Floyd Smith decides to cancel or redeem common shares, he can do that also and there is nobody who can do anything. Yes I agree I am right behind you on this too. This is too much and anybody who thinks this is positive ..............................This is pretty much lights out for this company, there is nobody in the entire world can do anything about it. But there are few things you can actually do. IMO