The 2nd page of the October 7th new BOD appointment filing shows the following:
Pursuant to and in accordance with the provisions of §7-1 07-1 04 of the Colorado Revised Statutes, and Article II, Section 12 of the Bylaws of Triton Distribution Systems, Inc., a Colorado corporation (the "Company"
, the undersigned, constituting the sole holder of shares of Series A Super Preferred Stock, does hereby take the following actions and adopt the following resolutions:
FIRST, regarding the resignation of Romeo Orlando Cruz as Interim Chief Executive Officer and member of the Board of Director of the company.
Cruz signed the "Action By Written Consent" document as a holder of Series A Preferred Stock. I was hearing through PM’S that Cruz was receiving disturbing and threatening calls and emails due to the stock performance. Why would he give up control of GRCU after investing over $120K and holding only 23mm shares for that cash? The guy didn’t dilute a share. The prior BOD worked for reasonable quarterly share distribution. The AS has been reduced, preferred shares have been retired, etc so I believe Cruz wants a legitimate company. I get the impression he is a control freak and one of the many possible reasons Jones and Calkin left. That said, it’s my opinion Cruz maintained voting control by issuing himself or converting his 23mm shares to “Series A Super Preferred Stock” of GRCU stock. IGlow would like to differ but IMO those 100mm restricted GRCU shares can’t be touched for any reason without Cruz’s vote which might or might not count as the majority vote based on the Super Preferred status. Cruz knew GRCU required some marketing skills and future marketing in general. He sells “GRCU majority shareholder” Green Cures Inc holding 100mm “restricted common” shares to Instep (Monster Marketing operating under public symbol NGCG) but no cash exchanges hands. The 100mm shares are held by holding company Instep Holdings for future payments to Monster Marketing. Cruz hires Tragressor who has 25 years experience marketing consumer products to grocery chains and the like. My bet is Tragressor will work with Monster Marketing but with Cruz’s oversight. Cruz’s “preferred” power over how and what those 100mm shares are spent on is all part of the plan whether Cruz is listed as a BOD member or not. Cruz remains the silent partner and out of the public eye.
Preferred stock has a claim on liquidation proceeds of a stock corporation equal to its par (or liquidation) value, unless otherwise negotiated. This claim is senior to that of common stock, which has only a residual claim.
Pursuant to and in accordance with the provisions of §7-1 07-1 04 of the Colorado Revised Statutes, and Article II, Section 12 of the Bylaws of Triton Distribution Systems, Inc., a Colorado corporation (the "Company"
, the undersigned, constituting the sole holder of shares of Series A Super Preferred Stock, does hereby take the following actions and adopt the following resolutions: FIRST, regarding the resignation of Romeo Orlando Cruz as Interim Chief Executive Officer and member of the Board of Director of the company.
Cruz signed the "Action By Written Consent" document as a holder of Series A Preferred Stock. I was hearing through PM’S that Cruz was receiving disturbing and threatening calls and emails due to the stock performance. Why would he give up control of GRCU after investing over $120K and holding only 23mm shares for that cash? The guy didn’t dilute a share. The prior BOD worked for reasonable quarterly share distribution. The AS has been reduced, preferred shares have been retired, etc so I believe Cruz wants a legitimate company. I get the impression he is a control freak and one of the many possible reasons Jones and Calkin left. That said, it’s my opinion Cruz maintained voting control by issuing himself or converting his 23mm shares to “Series A Super Preferred Stock” of GRCU stock. IGlow would like to differ but IMO those 100mm restricted GRCU shares can’t be touched for any reason without Cruz’s vote which might or might not count as the majority vote based on the Super Preferred status. Cruz knew GRCU required some marketing skills and future marketing in general. He sells “GRCU majority shareholder” Green Cures Inc holding 100mm “restricted common” shares to Instep (Monster Marketing operating under public symbol NGCG) but no cash exchanges hands. The 100mm shares are held by holding company Instep Holdings for future payments to Monster Marketing. Cruz hires Tragressor who has 25 years experience marketing consumer products to grocery chains and the like. My bet is Tragressor will work with Monster Marketing but with Cruz’s oversight. Cruz’s “preferred” power over how and what those 100mm shares are spent on is all part of the plan whether Cruz is listed as a BOD member or not. Cruz remains the silent partner and out of the public eye.
Preferred stock has a claim on liquidation proceeds of a stock corporation equal to its par (or liquidation) value, unless otherwise negotiated. This claim is senior to that of common stock, which has only a residual claim.
