removal of directors, page-4

Yes, I agree wholeheartedly but let's look at the realities.

1. Back in 2004 (from recollection) a Group was formed called "Friends of Citigold" ... it never really got off the ground (there was a Web Site, but only accessible with a password). The guy that set it up is a pretty credible critter (and I'm not at liberty to disclose this person's identity ... I think he and some of his friends read this Forum, so if he wants to put his hand up, then that's up to him). They were pretty keen to boot Foley off the Board in particular ... he went all legal and threatening and everyone got cold feet. Not long after that, things started to happen, so it died a natural death.

2. To do anything, you would FIRST need to come up with a realistic alternative. In my opinion, a 5 man Boad is needed to break this "cartel thought pattern" between Lynch and Foley. So, WHO??

3. Supposing we did find suitable candidates, you would first need to buy a Shareholders List from the Keepers of such things ... from recollection it was a $6,000 or so exercise. You would then need to have a credible individual behind the movement who would need to write to ALL Shareholders with a concrete plan to move forward. You can't just say "the current Board sucks ... let's boot 'em out and appoint someone competent". So, all in all a minimum $10,000 exercise ... who is going to fund this?

4. You would then need to get past the large number of Shares that Lynch and his family/cronies hold ... might be as much as 30% of the Company (maybe more). That means that you have an uphill battle from day one. They will also put enormous pressure on existing Shareholders to maintain the status quo.

Lynch and Foley know all this, so they can do whatever they like (and they do!).