Ann: Coretrack To Sue For Unlawful IP Licence Ter, page-35

re: Ann: Coretrack To Sue For Unlawful IP Lic... If the board were removed and Warren and some experienced new board members took control the rig would not only stay it would be put to work with contracts in waiting.
However there is a major stumbling block and that is Cygnet who have no interest in the company becoming a successfull drilling company.
We will flounder unless the board and CEO are removed but we can't remove them without Cygnet and Cygnet are not interested in drilling.
I believe the company will be taken over by Cygnet and turned into a mining company. At least that is their goal.
What happens with the rig and drill equipment remains to be seen as the courts decide who is right with regards to the IP agreement.
I wonder how the company will rasie funds to stay afloat. I doubt they can sell anything whilst it is a matter of legal challenge.

The logical thing would be to split the company. Let the board and Kelly have the CLRS and work a fair deal for Globe Drill and Warren to take back the rig and all intellectual property concerning it.

Shareholders should be given a right to choose which company they want their shares allocated to.

Not even sure if such a thing is possible but makes the most sense.

The CLRS side and The globe drill side have never believed in each others technologies and management obviously didn't have the skills to make anything of either side.

Split it up and let each side simply get on.

Probably too cheap and too easy as an option so won't happen.