All posts by Givara Balnarring
| May 14th, 07:50 Givara Balnarring |
L&L Financial Services Public Forum » Closing Operations Re: Closing Operations |
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| Lindsay, I am still waiting for a answer to a question asked at the beginning of this thread. How can you decide to close a company that you you own 26% of? If you feel the need to leave, then sell your shares and leave. You are treating L&L as your private company. If SL stock exchanges are to have any meaning, then a share in a company should represent what it does in real life, a SHARE in the company. Your share is 26%, others own 74%. So, again, how can you unilaterally decide to close the company when you are a minority shareholder? |
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| May 14th, 08:22 Givara Balnarring |
L&L Financial Services Public Forum » Closing Operations Re: Closing Operations |
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| Lindsay, three points 1) Are you now saying that you made this decision in consultation with the CEO and other L&L founders? 2) The person who originally pointed out that you have a minority of shares (Cayman Beaumont) holds as many shares in the company as you do. So could he decide NOT to close the company? 3)Even if we take your point, 40% is still a minority. That and saying "there is not enough of a majority to overturn the CEO/Chairman anyway" are both reasons to make a decision based on a share holders meeting. That way you at least have quorum. |
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| May 14th, 08:42 Givara Balnarring |
L&L Financial Services Public Forum » Closing Operations Re: Closing Operations |
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| Lindsay not having sufficient time to call a meeting is not a good reason for a minority of shares holders to make such a decision. The decision was made by people who, collectively , do not own the company. If this was a real life company listed on a real exchange, your actions would be illegal. Not having enough time does not change that, and frankly, it's a bit unprofessional to use such an excuse. The desicion has affected many people. Saying "I didn't have enough time" is a slap in the face to them. Either make the time , or postpone the desicion until such time that a meeting can be held. |
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| May 14th, 08:57 Givara Balnarring |
L&L Financial Services Public Forum » Closing Operations Re: Closing Operations |
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| Lindsay, who asked you to quit your RL job? you missed my point. By saying "make the time" I meant make it IF you want to make the desicion to close the company. If you can't make the time (and being busy with a RL job is a good reason), then you have no right to close the company. You can't use the lack of time excuse to do something which would be illegal in real life or at least unethical in SL. The people who made this decision , collectively , are minority shareholders. My God, you will argue any point no matter how untennable your position. You, and the people who made this decision do not own the company.You are minority shareholders. How can you argue this? |
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| May 14th, 09:21 Givara Balnarring |
L&L Financial Services Public Forum » Closing Operations Re: Closing Operations |
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| Lindsay, you stated "I was not arguing that we don't have the majority. I was arguing that there is no majority to overturn the decision in the first place making the 40% the majority of actual votes in this case. I didn't miss your point. I was giving mine." what kind of Cart-before-the-Horse logic is that? You are saying that you have no majority(you conceeded that), then you say that as a minority, you made a decision to close, and now challenge anyone to come up with a majority to overturn it??? well...if you can make a decision based on having a minority, why do others need a majority? I said that having a RL job is a good excuse for not having time. But that doesn't mean you can go ahead and do something you have no right to do because of it. Are you reading too fast to get the point?Yes, you had no time....fine...but you also had no majority. Not having time to call a shareholders meeting does not negate the shareholders right to have one. The thing to have done is to continue with L&L until a sharedholders meeting could be set up. If you still couldn't do that, then sell your shares and get out of the company. Respond as you will. I've had it with trying to argue what is an obvious point. I will wait for the blog post before the 18th as you stated. Perhaps we will get our money back. If I have to take an unreasonable loss I will look into having the points we discussed argued in court. I know $L might not be considered REAL money, but it is a grey area of law that some lawyer might take up out of interest. |
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| May 14th, 09:35 Givara Balnarring |
L&L Financial Services Public Forum » Closing Operations Re: Closing Operations |
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| Lindsay quoted "Ok Givara. The company can stay in stasis until I have time for a shareholders meeting to officially close operations." Don't mock me...or humor me. If you are serious, then your minority decision should be null and void. Which means the company is operational and trading is not halted. Then you can call a shareholders meeting within a reasonable time frame (not 4 months) or leave the company. |
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| May 14th, 09:41 Givara Balnarring |
L&L Financial Services Public Forum » Closing Operations Re: Closing Operations |
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| To all others on here. OttoVan Oyen stated that between him and a few others they have 43.4% of the shares. Can we get a few others here to join in and see if we can reach that magic 50%. Then we can hold a meeting and make a proper decision on the future of the company. Just a thought |
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| May 14th, 09:59 Givara Balnarring |
L&L Financial Services Public Forum » Closing Operations Re: Closing Operations |
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| I'm with you Ivan. Good plan | ||
| May 14th, 10:13 Givara Balnarring |
L&L Financial Services Public Forum » Closing Operations Re: Closing Operations |
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| Lindsay I agree that the fire may be fueled by some posts here, but the fire was started by you when you mad a decision you had no right to make without consulting the other shareholders. You state "L&L is our name....our brand. Founded by me and Luke Birdbrain. If you think for one second, I am just going to lay down and turn over all the assets just because, you are sadly mistaken." Seems to me that you don not fully get the concept of a publicly traded company, and that you weren't ready to go public with your company. Unless you keep more than 50% of the shares, you loose controling interest in the company. This is a point you don't seem to be getting. You also state "you can follow Ivan's plan of a supposed hostile take over and we all end up in court." Yes, lets. Then we can have full discloser. |
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| May 14th, 10:17 Givara Balnarring |
L&L Financial Services Public Forum » Closing Operations Re: Closing Operations |
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| One more thing Lindsay you stated "we can work together and have all hearts and minds reasonably clear" I agree. All hearts and minds should have been consulted before you made a decision. You make a backroom decision, leaving most shareholders out of the loop, and then you say we should all work together? Yes there is bickering here, there is anger. Look to the way you made the original decision to close the company and you'll see why that is the case. |
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