We have been advised that the 70 odd new areas/permits/leases have been granted to SOLG and are still to be explored in Ecuadore. 11 of which have special significance and potential to equal that of Alpala and Casabel. From SOLG announcements I am of the understanding that ownership of these new areas has been given to four new and separate companies under the control of SOLG. They are separate legal entities and the sale of SOLG by way of a TO does not mean that the new owner of SOLG automatically gains control/ownership of these permits and whatever riches that may be found on them. To my knowledge SOLG Management has only told us that these 4 legal entities exist but not their structure or how it all works so to protect the interests of current SOLG shareholders, including DGR shareholders who have approximately 11% of SOLG. We all know that NM and various other members of DGR's Board of Directors, including our company secretary, also are members of SOLG and other daughter companies. They then receive additional salaries, etc., for performing their other functions within these companies. They get multiple pay packages in effect. So what I am interested in finding out, because it is not apparent at this time, is whether these four new companies/legal entities set up in Ecuadore have these same members managing them also? If so, how are they being paid? How much are they paid? Where is the money coming from to pay them? What incentives, presumably bonus options, will be given to them to continue being associated with these new companies. If they are not producing anything so no money is being made, I again presume there must be a way to compensate them for all the additional work these four legal companies will require to be done. NM has a history of receiving more than reasonable compensation for his efforts though I am at a loss as how he can separate himself from the demands of each company and how many more hours he can spend doing such additional work. What happens to the ownership of these companies and the permit areas, etc., if a takeover of SOLG occurs and will DGR still have some ownership of them. Perhaps more astute posters can answer some of questions! I am sure there will be suitable explanations afforded but why hasn't our CEO, BOD members, and Company Secretary released this information already. Is it not relevant to current shareholders and remember most of these decision makers have joint roles and responsibilities and such information after all is required to be released (by law)!
DGR Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
