Subscribe to this topicForums > Sky Power Fund > Topic: Meeting Minutes May 10, 2008
| May 10th 2008, 19:18 Reina Ferraris |
Meeting Minutes May 10, 2008 | |
| Scott Nestler: I motion that we call this meeting to order, do I have a second [18:37] thx1138 Vanbeeck: 2 [18:37] Scott Nestler: Thank you [18:37] Cadmann Waechter: Aye [18:37] [Scott Nestler: First order of business? [18:37] Dezmond Martinek: Elect a replacement for sully [18:37] thx1138 Vanbeeck: who picked the moderator of this meeting? [18:37] ]Scott Nestler: No one picked me, if you like you may moderate [18:37] thx1138 Vanbeeck: i am just asking seems that it is a point to address [18:37] Scott Nestler: I was just opening the floor to questions, if anyone else would like to moderate, please[/color] [18:37] Dezmond Martinek: no thanks [18:37] Cadmann Waechter: With what we talk about I think u r the best to do so Scott. [18:37] Reina Ferraris: I'm just here to observe [18:37] Scott Nestler: OK, so back to the question on the floor [18:37] thx1138 Vanbeeck: the real question is sully is gone and we need an interim ceo at least [18:37] Scott Nestler: Are we all in agreement? [18:37] Dezmond Martinek: yes [18:37] Cadmann Waechter: I suggest Vanbeeck here [18:37] thx1138 Vanbeeck: aye [18:37] Freddy Beachey: thats so sad an I am so confused about that [18:37] Scott Nestler: Freddy, do you have a question? [18:37] thx1138 Vanbeeck: he may be ill, dead or a scoundrel, we don't know [18:37] Cadmann Waechter: He's sick V [18:37] Freddy Beachey: no question atm [18:37] Dezmond Martinek: he might be, but we have no contact we cant know [18:37] Scott Nestler: ok, so we are talking about appointing a interim CEO [18:37] Dezmond Martinek: and we have a wad of cash sitting around decreasing in value [18:37] Reina Ferraris: He made his last trade on May 1st [18:37] thx1138 Vanbeeck: he was very energetic to save this company, i say we give him the benefit of doubt [18:37] Cadmann Waechter: I suggested V [18:37] Scott Nestler: His last login in SL was 4/20 [18:37] thx1138 Vanbeeck: but need an interim ceo [18:37] Reina Ferraris: Does Vanbeeck have access to the admin section of the website? [18:37] Reina Ferraris: well he made a trade on 5/01 [18:37] thx1138 Vanbeeck: no [18:37] Dezmond Martinek: Capex is likely going to charge us a transfer fee [18:37] Dezmond Martinek: and then charge us again going the other way [18:37] Cadmann Waechter: Not me [18:37] Scott Nestler: What website are we referencing? [18:37] Dezmond Martinek: if the funds are moved from one account to another [18:37] Reina Ferraris: slcapex.com [18:37] Freddy Beachey: and charge us for not submitting monthly statements [18:37] Scott Nestler: ah, I do not think anyone here has access to that but you [18:37] Dezmond Martinek: I think we can get an exception to that [18:37] Dezmond Martinek: due to extenuating circumstances [18:37] Reina Ferraris: there you have it I am stating facts [18:37] Reina Ferraris: good thing I showed up [18:37] thx1138 Vanbeeck: super reina shows up and saves the day but can't rescue the financial sector of sl [18:37] Cadmann Waechter: :) [18:37] Scott Nestler: We can appoint a intern CEO without moving assets if we label it temporary [18:37] Reina Ferraris: I am a mortal [18:37] Dezmond Martinek: we can [18:37] Dezmond Martinek: but I would like to point out [18:37] Dezmond Martinek: that a great number of the assets are in stocks that are currently falling like rocks in a pond on the moon [18:37] Scott Nestler: The assets are valued at about 1.1m [18:37] Dezmond Martinek: currently? [18:37] Scott Nestler: as of yesterday [18:37] thx1138 Vanbeeck: what is the gravitational constant again? lol [18:37] Dezmond Martinek: well really it was a stupid analogy but, you can overlook that [18:37] Reina Ferraris: it's a little more than that Scott should I post it here [18:37] Scott Nestler: How much more do you think? [18:37] Dezmond Martinek: alright so we can appoint a ceo without moving assets if we agree to let the money sit there [18:37] Dezmond Martinek: and do nothing, which might be reasonable [18:37] Reina Ferraris: sorry you are correct i was looking at shares and not value [18:37] Dezmond Martinek: provided we set a time frame of 2 weeks for making contact [18:37] Reina Ferraris: that SLW really screws me up [18:37] Dezmond Martinek: slw is screwing everyone... up [18:37] Cadmann Waechter: I think we need to come to a decion right here [18:37] thx1138 Vanbeeck: that is the elephant in the room dezmond [18:37] Reina Ferraris: ok [18:37] Cadmann Waechter: Not put it off [18:37] Reina Ferraris: I am not a shareholder anymore, but I can act as interim CEO, I do have admin access to the site [18:37] Dezmond Martinek: I wasnt proposing we put it off [18:37] Dezmond Martinek: but if we move assets [18:37] Dezmond Martinek: and move them again [18:37] Scott Nestler: We could request a transaction history of the POW accounts for April and create the financials pretty easily [18:37] Dezmond Martinek: we are going to incure quite a fee [18:37] Reina Ferraris: but maybe it is a conflict of interest, because I have too much information [18:37] Cadmann Waechter: V? [18:37] thx1138 Vanbeeck: the financials shouldn't have moved much since the last ones [18:37] Dezmond Martinek: especially if he hasn t been here to trade [18:37] Reina Ferraris: there are some stock sales [18:37] Dezmond Martinek: so Cad are you saying we should elect a new ceo or an acting ceo [18:37] Cadmann Waechter: Acting CEO [18:37] Scott Nestler: agreed, with the data we can create the financials and the interm CEO would take POW off hault [18:37] Dezmond Martinek: ok if we are electing an acting ceo do we want them to actually do anything [18:37] Dezmond Martinek: other than post financials [18:37] Reina Ferraris: there are about 30 trades since the 20th of April [18:37] thx1138 Vanbeeck: the exchange has contact info for sully, and i have heard lindsay has tried him on the phone, with no results [18:37] Dezmond Martinek: how long are we going to wait before appointing a real ceo[/color] [18:37] Scott Nestler: no one has been able to reach him [18:37] Dezmond Martinek: or how long before we replace sully if we cant contact him [18:37] Cadmann Waechter: That will be the next topic... [18:37] Dezmond Martinek: it applies [18:37] Dezmond Martinek: it should weigh in on the decision since, if we move assets [18:37] Dezmond Martinek: it will cost us what 2.5 percent? [18:37] Cadmann Waechter: Who here suggests someone for Acting CEO? [18:37] Dezmond Martinek: I think your being reckless and not looking at the ramifications [18:37] Scott Nestler: your talking about a 30k fee if you base if on the current portfolio [18:37] thx1138 Vanbeeck: how are you going to move slw shares dezmond? trade them for wtf shares? [18:37] Dezmond Martinek: ok if you want to pay 30k [18:37] Dezmond Martinek: to transfer assets [18:37] Scott Nestler: THX, Dezmond is talking about transfering from Avatar to Avatar [18:37] Dezmond Martinek: and then pay another 30 k [18:37] Dezmond Martinek: to transfer them again [18:37] Dezmond Martinek: or do you want a ceo who does nothing but post financials [18:37] Dezmond Martinek: these should be important questions [18:37] Dezmond Martinek: before you elect an acting CEO [18:37] thx1138 Vanbeeck: sully claimed he had a plan, this is a boat with no rudder [18:37] Dezmond Martinek: right and he may be back tomorrow for all we know [18:37] Scott Nestler: I agree and a huge chunk of the assets are unmoveable [18:37] Dezmond Martinek: so the sensible thing to do is since Reina is willing appoint her [18:37] Dezmond Martinek: wait two weeks and revisit the situation if sully is not back [18:37] Scott Nestler: are we all aware of the current portfolio makup? [18:37] Freddy Beachey: sounds reasonable[/color] [18:37] thx1138 Vanbeeck: give us a thumbnail schetch scott [18:37] Scott Nestler: JTIC about 429k shares [18:37] Scott Nestler: vSLE 941k [18:37] Scott Nestler: SLW that is 429k shares [18:37] Cadmann Waechter: Going to look funny. Reina as CEO with no shares...... [18:37] Scott Nestler: POW 453k shares [18:37] Dezmond Martinek: why [18:37] Dezmond Martinek: first off its temporary [18:37] Scott Nestler: LCA 36k shares [18:37] Scott Nestler: rcp 3k shares [18:37] Dezmond Martinek: secondly there is no rule that says a ceo has to have shares [18:37] Scott Nestler: NIC 7k shares[/color] [18:37] Dezmond Martinek: but you could always give her some of yours [18:37] Cadmann Waechter: :) [18:37] [color=#660066]Scott Nestler: That's it[/color] [18:37] [color=#002EB8]Cadmann Waechter: U funny dude...[/color] [18:37] [color=#FF6633]Reina Ferraris: I'll transfer some of yours to my account[/color] [18:37] [color=#660033]Dezmond Martinek: look if you transfer assets its going to cost us money[/color] [18:37] [color=#660033]Dezmond Martinek: if we are waiting to see if sully comes back[/color] [18:37] [color=#660033]Dezmond Martinek: its a very dumb idea[/color] [18:37] [color=#002EB8]Cadmann Waechter: I agree[/color] [18:37] [color=#002EB8]Cadmann Waechter: He's been gone for ages.[/color] [18:37] [color=#FF6633]Reina Ferraris: it has been 10 days[/color] [18:37] [color=#660033]Dezmond Martinek: would you be willing to post get those financials together Reina?[/color] [18:37] [color=#002EB8]Cadmann Waechter: We don't know what's going on....[/color] [18:37] [color=#FF6633]Reina Ferraris: he made his last trade on the 1st[/color] [18:37] [color=#FF6633]Reina Ferraris: yes I can do that[/color] [18:37] [color=#660033]Dezmond Martinek: it seems to me the most reasonable course of action here is to set a time frame for another meeting and appoint Reina until that time[/color] [18:39] [color=#006600]Freddy Beachey: 14 days[/color] [18:39] [color=#660033]Dezmond Martinek: sounds reasonable to me[/color] [18:39] [color=#002EB8]Cadmann Waechter: V?[/color] [18:39] [color=#006600]Freddy Beachey: and US citicens should try to contact sully further[/color] [18:39] [color=#663300]thx1138 Vanbeeck: as members of the board we have a fiduciary dury to the stockholders, i motion that we elect an interim ceo to consider our course of action[/color] [18:39] [color=#660033]Dezmond Martinek: I second that motion[/color] [18:39] [color=#002EB8]Cadmann Waechter: 2nd[/color] [18:39] [color=#660066]Scott Nestler: motion carried[/color] [18:39] [color=#006600]Freddy Beachey: 2nd[/color] [18:39] [color=#660033]Dezmond Martinek: it appears all are in favor as well[/color] [18:39] [color=#660066]Scott Nestler: do we have nominees[/color] [18:39] [color=#660033]Dezmond Martinek: I would like to nominate Reina Ferraris[/color] [18:39] [color=#663300]thx1138 Vanbeeck: 2nd[/color] [18:39] [color=#006600]Freddy Beachey: agreed[/color] [18:39] [color=#002EB8]Cadmann Waechter: Agreed[/color] [18:39] [color=#660066]Scott Nestler: Any other nominees?[/color] [18:39] [color=#FF6633]Reina Ferraris: Hold on[/color] [18:39] [color=#663300]thx1138 Vanbeeck: grumble ling?[/color] [18:39] [color=#FF6633]Reina Ferraris: do I need to be a shareholder[/color] [18:39] [color=#660033]Dezmond Martinek: we have nearly 50 percent of the shareholders here now as far as holdings go[/color] [18:39] [color=#660066]Scott Nestler: Once the company is off hault we can rectify your stockholder status, agreed?[/color] [18:39] [color=#FF6633]Reina Ferraris: I can transfer stocks now[/color] [18:39] [color=#660066]Scott Nestler: You can transfer 1000 shares of POW from my account to yours[/color] [18:39] [color=#FF6633]Reina Ferraris: yes, but we should wait[/color] [18:39] [color=#FF6633]Reina Ferraris: ok great thanks Scott[/color] [18:39] [color=#660066]Scott Nestler: that does not effect the hault[/color] [18:39] [color=#660033]Dezmond Martinek: very generous Scott[/color] [18:39] [color=#FF6633]Reina Ferraris: I'll give it back to him, Dezmond you don't know me[/color] [18:39] [color=#660033]Dezmond Martinek: your very kind[/color] [18:39] [color=#660066]Scott Nestler: Do we have any other nominees for CEO?[/color] [18:39] [color=#660066]Scott Nestler: Shall we vote?[/color] [18:39] [color=#660033]Dezmond Martinek: acting CEO and no, I dont believe so[/color] [18:39] [color=#660033]Dezmond Martinek: yes[/color] [18:39] [color=#002EB8]Cadmann Waechter: Yes[/color] [18:39] [color=#660033]Dezmond Martinek: I would however like to specify[/color] [18:39] [color=#660033]Dezmond Martinek: at this time[/color] [18:39] [color=#660033]Dezmond Martinek: that the term will be for 2 weeks[/color] [18:39] [color=#663300]thx1138 Vanbeeck: cad[/color] [18:39] [color=#660066]Scott Nestler: THX?[/color] [18:39] [color=#002EB8]Cadmann Waechter: I nominate V here.[/color] [18:39] [color=#663300]thx1138 Vanbeeck: i nominate cad[/color] [18:39] [color=#002EB8]Cadmann Waechter: :)[/color] [18:39] [color=#660066]Scott Nestler: Do I have a second?[/color] [18:39] [color=#663300]thx1138 Vanbeeck: he is the largest shareholder by far[/color] [18:39] [color=#660033]Dezmond Martinek: do we need to have a tight race[/color] [18:39] [color=#660066]Scott Nestler: no we don't have to have a tight race, but diversity wouldn't hurt[/color] [18:39] [color=#002EB8]Cadmann Waechter: I haven't seen a 2nd for V....[/color] [18:39] [color=#660033]Dezmond Martinek: in this case[/color] [18:39] [color=#660033]Dezmond Martinek: it may well hurt[/color] [18:39] [color=#663300]thx1138 Vanbeeck: i don't want it cad[/color] [18:39] [color=#002EB8]Cadmann Waechter: Fair enough[/color] [18:39] [color=#660066]Scott Nestler: ok, so thx has declined the nomination[/color] [18:39] [color=#002EB8]Cadmann Waechter: I nominate Scott[/color] [18:39] [color=#660033]Dezmond Martinek: if you insist on having two canidates I would second that[/color] [18:39] [color=#660033]Dezmond Martinek: so we can get on to the vote[/color] [18:39] [color=#660066]Scott Nestler: THX has already declined the nomination[/color] [18:39] [color=#663300]thx1138 Vanbeeck: i think scott should recuse himself from the post at this time because of informal talks about a merger[/color] [18:39] [color=#002EB8]Cadmann Waechter: That was informal[/color] [18:39] [color=#660066]Scott Nestler: I have not been nominated for the post[/color] [18:39] [color=#660033]Dezmond Martinek: great can we vote[/color] [18:39] [color=#660066]Scott Nestler: Can we have a motion for a vote?[/color] [18:39] [color=#660033]Dezmond Martinek: I motion we vote[/color] [18:39] [color=#660066]Scott Nestler: second?[/color] [18:39] [color=#002EB8]Cadmann Waechter: 2nd[/color] [18:39] [color=#660066]Scott Nestler: excellent[/color] [18:39] [color=#660066]Scott Nestler: All in favor of Reina Ferraris as acting CEO?[/color] [18:39] [color=#660033]Dezmond Martinek: aye[/color] [18:39] [color=#006600]Freddy Beachey: yepp[/color] [18:39] [color=#663300]thx1138 Vanbeeck: aye[/color] [18:39] [color=#660066]Scott Nestler: Cadmann?[/color] [18:39] [color=#002EB8]Cadmann Waechter: Aye[/color] [18:39] [color=#660066]Scott Nestler: Reina Ferraris you have been elected Acting CEO of POW, do you accept the position?[/color] [18:39] [color=#FF6633]Reina Ferraris: Yes, but only for 2 weeks[/color] [18:39] [color=#FF6633]Reina Ferraris: I'm a little busy[/color] [18:39] [color=#660033]Dezmond Martinek: :)[/color] [18:39] [color=#660066]Scott Nestler: agreed and acknowledged[/color] [18:39] [color=#660033]Dezmond Martinek: thank you Reina[/color] [18:39] [color=#660066]Scott Nestler: Any other new business for this meeting?[/color] [18:39] [color=#663300]thx1138 Vanbeeck: reina you better make us money, lol[/color] [18:39] [color=#FF6633]Reina Ferraris: LOL[/color] [18:39] [color=#002EB8]Cadmann Waechter: The name change for the Company[/color] [18:39] [color=#660033]Dezmond Martinek: yes double in before your time is up[/color] [18:39] [color=#006600]Freddy Beachey: the statement is no problem?[/color] [18:39] [color=#FF6633]Reina Ferraris: I won't say what I think should have been sold weeks ago[/color] [18:39] [color=#006600]Freddy Beachey: waiting longer costs money[/color] [18:39] [color=#660033]Dezmond Martinek: hehe[/color] [18:39] [color=#002EB8]Cadmann Waechter: We have to be honest w/ that and deliver...[/color] [18:39] [color=#663300]thx1138 Vanbeeck: i agree[/color] [18:39] [color=#660033]Dezmond Martinek: very well[/color] [18:39] [color=#660033]Dezmond Martinek: what names where put up[/color] [18:39] [color=#663300]thx1138 Vanbeeck: sully made a promise[/color] [18:39] [color=#002EB8]Cadmann Waechter: I like PDF. Power Diversification Funds...[/color] [18:39] [color=#660033]Dezmond Martinek: was there any actual submissions[/color] [18:39] [color=#663300]thx1138 Vanbeeck: i think that was the best i saw as well[/color] [18:39] [color=#660033]Dezmond Martinek: I havnt seen any[/color] [18:39] [color=#002EB8]Cadmann Waechter: Tons[/color] [18:39] [color=#663300]thx1138 Vanbeeck: they are in the forums[/color] [18:39] [color=#660066]Scott Nestler: http://www.slcapex.com/forums/topic/POW/1765[/color] [18:39] [color=#660066]Scott Nestler: http://www.slcapex.com/forums/topic/POW/1765[/color] [18:39] [color=#660033]Dezmond Martinek: some how I missed those[/color] [18:39] [color=#660066]Scott Nestler: AIG Allied Investment Group Working to Leverage Your Lindens![/color] [18:39] [color=#006600]Freddy Beachey: some very cute names among[/color] [18:39] [color=#660066]Scott Nestler: FKI Fort Knocks Investments Securing your investment in securities.[/color] [18:39] [color=#660033]Dezmond Martinek: I would love to see Power out of the name[/color] [18:39] [color=#660066]Scott Nestler: CCG Chartered Capital Group[/color] [18:39] [color=#660066]Scott Nestler: SOS - Sully Okelly Securities WIN - World Investment Network PDF - Power Diversify Fund NEW - New Economy of SL World or New Economy Wealth Building[/color] [18:39] [color=#660033]Dezmond Martinek: laugh[/color] [18:39] [color=#660066]Scott Nestler: OBI - Old Boys Investments[/color] [18:39] [color=#002EB8]Cadmann Waechter: I think we have to keep it in there for now....[/color] [18:39] [color=#660066]Scott Nestler: The SETI Corporation SETICorp The SETI Group Securities [/color] [18:39] [color=#660033]Dezmond Martinek: ok but[/color] [18:39] [color=#660033]Dezmond Martinek: it still has the stench[/color] [18:39] [color=#660066]Scott Nestler: AIF Avatars Income Fund LOL Loads Of Lindens AIX Affiliated Investment Exchange[/color] [18:39] [color=#660033]Dezmond Martinek: of sky[/color] [18:39] [color=#660066]Scott Nestler: Angry Elves Investments - AEI Open Water Fund - OWF Universal Virtual Fund - UVF Metaverse Holdings Company - MHC Virtual Applied Mutual - VAM White Oak Investments - WOI (Even gives you a logo) Dawn Virtual Holdings - DVH North Linden Investments NLI Focused Virtual Investments - FVI[/color] [18:39] [color=#660066]Scott Nestler: WIRU Whinging Investors R Us[/color] [18:39] [color=#660066]Scott Nestler: That is all of them posted[/color] [18:39] [color=#002EB8]Cadmann Waechter: I like PDF. No one can forget it....[/color] [18:39] [color=#660033]Dezmond Martinek: you do have a point[/color] [18:39] [color=#663300]thx1138 Vanbeeck: i don't care about the stupid name, we should honor the pledge, i liked pow even if it didn't stand for anything now[/color] [18:39] [color=#660033]Dezmond Martinek: I dont really care either, I simply dislike the POWER of those bs hyped up press releases[/color] [18:39] [color=#660033]Dezmond Martinek: that Sky always made[/color] [18:39] [color=#002EB8]Cadmann Waechter: I make a motion to remane the old POW.[/color] [18:39] [color=#660033]Dezmond Martinek: but if you like PDF its fine by me[/color] [18:39] [color=#660033]Dezmond Martinek: I second that motion[/color] [18:39] [color=#663300]thx1138 Vanbeeck: i think pdf should be the winner[/color] [18:39] [color=#660033]Dezmond Martinek: I will second that too[/color] [18:39] [color=#FF6633]Reina Ferraris: me too[/color] [18:39] [color=#660033]Dezmond Martinek: I motion we vote on it[/color] [18:39] [color=#FF6633]Reina Ferraris: it has a nice ring[/color] [18:39] [color=#660066]Scott Nestler: Has everyone reviewed the names submitted?[/color] [18:39] [color=#006600]Freddy Beachey: no prob with me[/color] [18:39] [color=#660066]Scott Nestler: We have a motion for a vote, second?[/color] [18:39] [color=#663300]thx1138 Vanbeeck: 2nd[/color] [18:39] [color=#006600]Freddy Beachey: 2nd[/color] [18:39] [color=#660033]Dezmond Martinek: can we carry that or do we have to second the carry[/color] [18:39] [color=#660066]Scott Nestler: we are fine[/color] [18:39] [color=#660033]Dezmond Martinek: good can we vote now?[/color] [18:39] [color=#660066]Scott Nestler: All in favor of PDF - Power Diversify Fund[/color] [18:39] [color=#660033]Dezmond Martinek: aye[/color] [18:39] [color=#663300]thx1138 Vanbeeck: aye[/color] [18:39] [color=#006600]Freddy Beachey: aye[/color] [18:39] [color=#002EB8]Cadmann Waechter: Aye[/color] [18:39] [color=#660066]Scott Nestler: Reina?[/color] [18:39] [color=#FF6633]Reina Ferraris: aye[/color] [18:39] [color=#660033]Dezmond Martinek: thanks boss[/color] [18:39] [color=#660066]Scott Nestler: motion carries, POW to be renamed PDF - Power Diversify Fund[/color] [18:39] [color=#FF6633]Reina Ferraris: No I work for you Dezmond[/color] [18:39] [color=#660033]Dezmond Martinek: yay[/color] [18:39] [color=#002EB8]Cadmann Waechter: Diversification[/color] [18:39] [color=#006600]Freddy Beachey: ...in PDF format[/color] [18:39] [color=#FF6633]Reina Ferraris: LOL[/color] [18:39] [color=#660066]Scott Nestler: Do we have any other new business to address?[/color] [18:39] [color=#FF6633]Reina Ferraris: a true adobe user[/color] [18:39] [color=#006600]Freddy Beachey: the monthly statement?[/color] [18:39] [color=#002EB8]Cadmann Waechter: Upcoming plans[/color] [18:39] [color=#660033]Dezmond Martinek: we can start an offshoot corp for our losses and call it the lead sinker[/color] [18:39] [color=#660033]Dezmond Martinek: lead sinker company[/color] [18:39] [color=#660066]Scott Nestler: funny[/color] [18:39] [color=#FF6633]Reina Ferraris: very[/color] [18:39] [color=#660033]Dezmond Martinek: almost[/color] [18:39] [color=#663300]thx1138 Vanbeeck: pdf is a file extension burned into people's brains, that is why i like it[/color] [18:39] [color=#660066]Scott Nestler: Let's start with the monthly statement and then go into future plans, agreed?[/color] [18:39] [color=#002EB8]Cadmann Waechter: Might as well throw in on the floor now Scott....[/color] [18:39] [color=#660066]Scott Nestler: Do we have a volunteer to create and post the monthly statement for POW?[/color] [18:39] [color=#660033]Dezmond Martinek: I would be pefectly happy to do so if I had anything to go on[/color] [18:39] [color=#663300]thx1138 Vanbeeck: who has the information about transactions since the last statement[/color] [18:39] [color=#663300]thx1138 Vanbeeck: ?[/color] [18:39] [color=#660033]Dezmond Martinek: despite our business today to keep PDF in trading[/color] [18:39] [color=#FF6633]Reina Ferraris: I thought I was to do that?[/color] [18:39] [color=#660033]Dezmond Martinek: the financial yes[/color] [18:39] [color=#002EB8]Cadmann Waechter: Is Reina's job as CEO.[/color] [18:39] [color=#660066]Scott Nestler: ok, then than matter is closed[/color] [18:39] [color=#FF6633]Reina Ferraris: I'm just reading the last one[/color] [18:39] [color=#660033]Dezmond Martinek: very well so she will post financials and as far as future plans, I think we have settled that[/color] [18:39] [color=#660066]Scott Nestler: Do we want to talk about plans for the next 2 weeks[/color] [18:39] [color=#660033]Dezmond Martinek: we will hold another share holder meeting wtihint 2 weeks[/color] [18:39] [color=#660033]Dezmond Martinek: or two weeks from today[/color] [18:39] [color=#660033]Dezmond Martinek: to deal with Sully's continued absense[/color] [18:39] [color=#006600]Freddy Beachey: sat 5pm in a fortnight[/color] [18:39] [color=#663300]thx1138 Vanbeeck: we need another bod meeting and then a shareholder meeting probably[/color] [18:39] [color=#660033]Dezmond Martinek: if that proves to be the case[/color] [18:39] [color=#660066]Scott Nestler: There is one thing I would like to mention before we close the meeting[/color] [18:41] [color=#660033]Dezmond Martinek: please go on Scott[/color] [18:41] [color=#660066]Scott Nestler: I have been informally discussing the idea of merging POW/PDF into NIC[/color] [18:41] [color=#660066]Scott Nestler: NIC has quite a portfolio now and I think the shareholders would benefit[/color] [18:41] [color=#660066]Scott Nestler: http://www.nestlerinvestments.com/assets.php[/color] [18:41] [color=#660066]Scott Nestler: Right now 2 of the 3 largest stocks in PDf's portfolio are not generating income[/color] [18:41] [color=#660066]Scott Nestler: SLW and POW[/color] [18:41] [color=#660066]Scott Nestler: It's my belief that long term PDF shareholders would generate better income variables with NIC's diversity and volume[/color] [18:41] [color=#663300]thx1138 Vanbeeck: wow, slw not generating income? how about wpm? lol[/color] [18:41] [color=#660033]Dezmond Martinek: you also plan to have a whole lot of outstanding shares[/color] [18:41] [color=#660066]Scott Nestler: What do you mean?[/color] [18:41] [color=#002EB8]Cadmann Waechter: I appreciate the sound idea....[/color] [18:41] [color=#660033]Dezmond Martinek: maybe I am wrong how many shares will be issued[/color] [18:41] [color=#660033]Dezmond Martinek: including those held by the company and ceo and employees etc[/color] [18:41] [color=#660033]Dezmond Martinek: total company shares[/color] [18:41] [color=#660066]Scott Nestler: In NIC, 3 million shares are in the IPO, 1.8 have been sold[/color] [18:41] [color=#660033]Dezmond Martinek: 3 million are in ipo and that includes all shares?[/color] [18:41] [color=#660066]Scott Nestler: no there are 15m shars total[/color] [18:41] [color=#660066]Scott Nestler: sorry, typo 10m[/color] [18:41] [color=#660033]Dezmond Martinek: much better[/color] [18:41] [color=#660033]Dezmond Martinek: and how would the merger work?[/color] [18:41] [color=#660066]Scott Nestler: I would propose a conversion of PDF shares to NIC shares based on a amount that we all agree to[/color] [18:41] [color=#660033]Dezmond Martinek: would that increase the total NIC shares[/color] [18:41] [color=#FF6633]Reina Ferraris: in addition to the NIC shares[/color] [18:41] [color=#660066]Scott Nestler: I would also offer a position in NIC to selected PDF shareholders[/color] [18:41] [color=#002EB8]Cadmann Waechter: I would have to say .70.[/color] [18:41] [color=#660033]Dezmond Martinek: or woudl you subtract the PDF shares from the total and stay at 10 million[/color] [18:41] [color=#660066]Scott Nestler: Totoal NIC shares will always be 10m[/color] [18:41] [color=#660033]Dezmond Martinek: lets discuss that at our nxt board meeting[/color] [18:41] [color=#660033]Dezmond Martinek: that way we all have time to review it[/color] [18:41] [color=#660033]Dezmond Martinek: and sully has a chance to return[/color] [18:41] [color=#002EB8]Cadmann Waechter: No. Let's get this sorted out[/color] [18:41] [color=#660033]Dezmond Martinek: we cant get it sorted out[/color] [18:41] [color=#660033]Dezmond Martinek: well I suppose we could.. but this seems a bit unsavory to me[/color] [18:41] [color=#660033]Dezmond Martinek: not that there is anything wrong with NIC[/color] [18:41] [color=#FF6633]Reina Ferraris: I think there should be the 2 weeks[/color] [18:41] [color=#660033]Dezmond Martinek: I see[/color] [18:41] [color=#FF6633]Reina Ferraris: to wait for Sully to return[/color] [18:41] [color=#002EB8]Cadmann Waechter: Am here...[/color] [18:41] [color=#002EB8]Cadmann Waechter: Sorry[/color] [18:41] [color=#FF6633]Reina Ferraris: it has only been a little over a week since he has been gone[/color] [18:41] [color=#660033]Dezmond Martinek: I want to review it[/color] [18:41] [color=#002EB8]Cadmann Waechter: Thought u said me.[/color] [18:41] [color=#660066]Scott Nestler: So far Reina and Dez want to wait 2 weeks for Sully's return, Cad and THX, do you agree or do you have another opinion?[/color] [18:41] [color=#663300]thx1138 Vanbeeck: reina, get them to at least halt the penalties while we are in transition[/color] [18:41] [color=#FF6633]Reina Ferraris: I'll see what I can do[/color] [18:41] [color=#660066]Scott Nestler: Reina, if you can download the data I can help you post in time[/color] [18:41] [color=#660066]Scott Nestler: I have a few hours to kill today[/color] [18:41] [color=#FF6633]Reina Ferraris: ok we can talk later[/color] [18:41] [color=#FF6633]Reina Ferraris: LOL[/color] [18:41] [color=#FF6633]Reina Ferraris: I'm ready for bed[/color] [18:41] [color=#FF6633]Reina Ferraris: we can talk after the meeting[/color] [18:41] [color=#002EB8]Cadmann Waechter: I make a motion that we merge....[/color] [18:41] [color=#FF6633]Reina Ferraris shakes her head[/color] [18:41] [color=#FF6633]Reina Ferraris: Cad you need to wait[/color] [18:41] [color=#660066]Scott Nestler: THX and Freddy, your opinions are not know[/color] [18:41] [color=#660066]Scott Nestler: what do you think[/color] [18:41] [color=#FF6633]Reina Ferraris: it may be a good idea, but I thought this meeting was about getting the halt lifted[/color] [18:42] [color=#006600]Freddy Beachey: the merger is an interesting point[/color] [18:42] [color=#006600]Freddy Beachey: however[/color] [18:42] [color=#006600]Freddy Beachey: it would be wise to wait the 2 weeks[/color] [18:42] [color=#663300]thx1138 Vanbeeck: i want to give sully a bit of time[/color] [18:42] [color=#660066]Scott Nestler: Cad that's 4-1 to review at this time[/color] [18:42] [color=#660066]Scott Nestler: the motion fails[/color] [18:42] [color=#006600]Freddy Beachey: I think his absence makes everyone uncertain about decisions and so[/color] [18:42] [color=#002EB8]Cadmann Waechter: I will hold that motion for the next meeting then.[/color] [18:42] [color=#660033]Dezmond Martinek: even if Sully was here I would want to review the offer[/color] [18:42] [color=#660033]Dezmond Martinek: and its not going to happen in 15 minutes[/color] [18:42] [color=#660066]Scott Nestler: Do we have any other business to review?[/color] [18:42] [color=#002EB8]Cadmann Waechter: But I think it is a wise decision.[/color] [18:42] [color=#660033]Dezmond Martinek: good then you will have plenty of time to prepare an arguement to that case after the rest of us[/color] [18:42] [color=#660033]Dezmond Martinek: have time to look at the facts[/color] [18:42] [color=#006600]Freddy Beachey: would the offer still stand in two weeks time, scott?[/color] [18:42] [color=#002EB8]Cadmann Waechter: :)[/color] [18:42] [color=#660066]Scott Nestler: I do not see why not[/color] [18:42] [color=#660033]Dezmond Martinek: if you would like to get together some time and discuss it[/color] [18:42] [color=#660066]Scott Nestler: I would like that[/color] [18:42] [color=#660033]Dezmond Martinek: thats fine with me but yuo cant expect us to come to a decision tonight[/color] [18:42] [color=#660033]Dezmond Martinek: I was unaware of this possibility[/color] [18:42] [color=#660033]Dezmond Martinek: until only a few minutes ago[/color] [18:42] [color=#002EB8]Cadmann Waechter: I think we should...[/color] [18:42] [color=#660066]Scott Nestler: I understand[/color] [18:42] [color=#002EB8]Cadmann Waechter: Come to a decision.[/color] [18:42] [color=#FF6633]Reina Ferraris: table the merger for two weeks[/color] [18:42] [color=#002EB8]Cadmann Waechter: V?[/color] [18:42] [color=#660033]Dezmond Martinek: the motion didnt carry there is no vote[/color] [18:42] [color=#663300]thx1138 Vanbeeck: 1 week at least[/color] [18:42] [color=#660066]Scott Nestler: We can always get together again for a meeting[/color] [18:42] [color=#660033]Dezmond Martinek: I motion we end the meeting, we can set a boar meeting date in a week to discuss the merger if you like[/color] [18:42] [color=#002EB8]Cadmann Waechter: Agreed[/color] [18:42] [color=#660033]Dezmond Martinek: or have an informal meeting[/color] [18:42] [color=#660066]Scott Nestler: Do we have any other business to review?[/color] [18:42] [color=#002EB8]Cadmann Waechter: Don't think so.[/color] [18:42] [color=#006600]Freddy Beachey: everyone here, living in the US should try to get in contact with sully[/color] [18:42] [color=#002EB8]Cadmann Waechter: Just make sure the name winner gets paid off[/color] [18:42] [color=#660066]Scott Nestler: Reina, will you facilitate that?[/color] [18:42] [color=#660066]Scott Nestler: King Broome was the winner[/color] [18:42] [color=#FF6633]Reina Ferraris: hold on[/color] [18:42] [color=#663300]thx1138 Vanbeeck: these will be messy minutes[/color] [18:42] [color=#FF6633]Reina Ferraris: yes I will take care of PDF[/color] [18:42] [color=#FF6633]Reina Ferraris: ok[/color] [18:42] [color=#660066]Scott Nestler: Do we have any other business to review?[/color] [18:42] [color=#002EB8]Cadmann Waechter: Not for me....[/color] [18:42] [color=#660033]Dezmond Martinek: no further business I motion to end the meeting[/color] [18:42] [color=#002EB8]Cadmann Waechter: 2nd[/color] [18:42] [color=#660066]Scott Nestler: Meeting closed[/color] [18:42] [color=#660033]Dezmond Martinek: thank you all[/color] [18:42] [color=#660066]Scott Nestl |
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