man the life boats, page-2

"man the life boats" is a good heading.

there is something very strange going on. this is the first time, that watso has been aware of a company, which has no directors (ok - the second time -where the whole board of sundance resources, were wiped out, in a plane crash).

there are people waiting in the wings, who want to become directors (there is a meeting in dec, to address the issue) . taylor, popal etc, obviously have the numbers. the simple solution would be to appoint those people to the board


the wild card, might be that some of the original holders, who got freebie shares (ok the freebie shares were 39m shares issued at .001c - which cost $390) , voted against the management. after all, in one count, at the agm, the count in favour of an existing board member was only 33m shares, and against was 41m. it is obvious that some of the people (probably the owners of 6m shares, who had risked $60) who got the freebies (ok - at .001c), were worried about the investment .

watso cannot understand why, the original agm was adjourned, only to be reconvened, to vote for some share issues - and then the reconvened agm, was also cancelled.

what a diabolical mess - the company has no directors, the company has most likely run out of funds, and in the short term, the company has limited fund raising opportunities . one thing for certain, is that the investors, who put in 20 c per share, in the IPO, will lose most of their funds