Dante,
You are partially correct
1) Parties cannot make an illegal contract
2) In this case the relevant clause mentions that CTP cannot raise as a defence any illegal act if discovered. ( well that particular clause would simply be struck down on public policy grounds, and have no effect)
3) Again you have a point regarding the fact that the reasons why the SOA were supported by the BOD has evaporated, and again you are right in assuming that the BOD should as a matter of ethics and fiduciary responsibility inform the share holders that those reasons are no longer relied upon by the BOD, BUT do you think we will see it forthcoming, maybe, and maybe NOT.
CB
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Mkt cap ! $40.24M | |||
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