There will be a lot of legal consequences! Genie is out of the...

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SilverTeenager

744 Posts.

106

08/07/23

22:19

Post #: 68690258
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Originally posted by groundhog2: ↑

ST - the issues raised in Josephs letter appear to be very serious. There are allegations against Raul, the current Board of Directors and of course the possible issue of trespass etc.

What I can't understand is that x64 owns at least 40% of Philsaga - so legally why aren't profits forthcoming. Surely if those profits are held up there are legal consequences down the track.

Just to put a human face to Josephs comment - that 70% of all shareholders voted in favor of the prior board. As at the 8th March 2023 there were 3340 shareholders of X64. 70% of that total represents 2340 shareholders and their families. We have all been denied access to our capital for quite a number of months. - particularly during this very difficult inflationary time for everybody. Not to mention the stress all shareholders have been under.

We all need to ensure that all aspects of x64's recent history are carried out and completed. In particular the Supreme Court actions in the Philippines, completed the audit / investigation and implement the findings, take action against anyone that has caused financial or any other damage against our company including the recoupment of any funds that may end up being outstanding etc (not all embracing).

We all need to be vigilant as a collective group to ensure that this process of voluntary administration is all embracing. DYOR

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There will be a lot of legal consequences! Genie is out of the bottle now! Haha I doubt they can put the Genie back in! Joseph is an ex cop, exposing this whole mess! Last person I would want to be right now is Raul and his companions! Cheers ST

X64 Price at posting: 57.0¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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