Hello! but since you give the impression that
Post# of 11107
Posted On: 10/30/2014 1:15:11 PM
Hello!
I do apologize if my message implied that I believe the C shares to be worthless. Actually, what I was referring to as being used as my book marker is the certificate issued me as compensation for consulting work with the company. Not the C share certificate (of which I have not received although I was a shareholder of PVEC, having purchased my shares on the open market prior to ever working with or for the company) of which I have not been issued.
As SeaAm has repeatedly stated and as the financials have shown, Jason and I were issued 25 & 20 million restricted shares, respectively. This was as per the compensation agreement dictated by our contracts with the company. As noted, neither of us have deposited these shares for conversion hence why I still have the certificate and use it as a book marker. In other words, the compensation for services as guaranteed by the restricted shares is still nothing more than a piece of paper. The compensation was never realized.
As far as the C shares--those were most certainly offered with the intentions of "making good" on them as it is said. Absolutely! The distribution was indeed an offer of thanks so-to-speak to long term shareholders, particularly those who had been disappointed by the Red Tide fiasco. And, as many or most know by the information released by the company during that time and even subsequent to that, the expectations were such that there would be no issues whatsoever honoring the redemption.
There are a couple of caveats to that, however:
For legal reasons, I cannot address the status of the company's ability to satisfy the C shares distribution when at last I severed all ties. That is not to say there was or was not definite evidence of their ability to do so. I just can't say either way.
There is obviously at least one person who is working overtime in his efforts to sabotage the company and its ability to move forward and ultimately satisfy the C share distribution. In my humble opinion, every endeavor that is sabotaged by him, equates to the likelihood of the shares being honored slimmer and slimmer.
There is even a legal argument for that!
Quote:
but since you give the impression that these certs are forever worthless could you please just answer this one burning question about them:
I do apologize if my message implied that I believe the C shares to be worthless. Actually, what I was referring to as being used as my book marker is the certificate issued me as compensation for consulting work with the company. Not the C share certificate (of which I have not received although I was a shareholder of PVEC, having purchased my shares on the open market prior to ever working with or for the company) of which I have not been issued.
As SeaAm has repeatedly stated and as the financials have shown, Jason and I were issued 25 & 20 million restricted shares, respectively. This was as per the compensation agreement dictated by our contracts with the company. As noted, neither of us have deposited these shares for conversion hence why I still have the certificate and use it as a book marker. In other words, the compensation for services as guaranteed by the restricted shares is still nothing more than a piece of paper. The compensation was never realized.
As far as the C shares--those were most certainly offered with the intentions of "making good" on them as it is said. Absolutely! The distribution was indeed an offer of thanks so-to-speak to long term shareholders, particularly those who had been disappointed by the Red Tide fiasco. And, as many or most know by the information released by the company during that time and even subsequent to that, the expectations were such that there would be no issues whatsoever honoring the redemption.
There are a couple of caveats to that, however:
For legal reasons, I cannot address the status of the company's ability to satisfy the C shares distribution when at last I severed all ties. That is not to say there was or was not definite evidence of their ability to do so. I just can't say either way.
There is obviously at least one person who is working overtime in his efforts to sabotage the company and its ability to move forward and ultimately satisfy the C share distribution. In my humble opinion, every endeavor that is sabotaged by him, equates to the likelihood of the shares being honored slimmer and slimmer.
There is even a legal argument for that!
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