Big Win for SFRX!
Post# of 7802
Posted On: 03/23/2016 8:34:25 PM
Looks like a Big Win for Kyle and SFRX!
I noticed the 8K that just came out and it says the case with Micah was dismissed "with prejudice" and that all his shares were cancelled. That looks to be a clear win for SFRX--Good for them for not giving in to Micah's demands. I've read about this case in the SFRX filings for a while now.
So Micah Eldred demands removal of the restrictive legend on certificates for more than 30,000,000 shares and then begins a multi-year lawsuit when Kyle refuses(for legal reasons) to remove it and now the case has been settled and all of Micah's shares have been cancelled and Micah's case was dismissed "with prejudice." Interesting. Micah must not have had much of a case if he just walked away from over 30,000,000 shares!
Here is a quote form the SFRX 10-K filing about the case:
Litigation of the matter that has continued and the Company has presented evidence and arguments of law that the shares were distributed from their original recipient Micah Eldred, in an illegal sale to another corporate entity. The Company further contends in its pleadings that such shares were then illegally purchased back by Eldred then distributed in a manner by Eldred to others including the 31 other Plaintiffs to avoid reporting requirements under the Securities Act and as Eldred had a duty to report as a principal of a brokerage. 34,7000,000 shares to certain friends, family and employees (i.e. the Plaintiffs named in this Complaint) and kept ownership of 4,140,000 shares.
Looks like Micah should not have sued in the first place. How much did Micah's wrong-headed actions cost SFRX ?...as it seems clear that Kyle was legally bound to defend himself and the company when Micah made demands that were in violation of SEC Laws.
Did Micah Eldred commit a crime when he demanded that the legend be removed from SFRX certificates in the first place? If so, were there other crimes committed by Micah and crew?
Isn't this the Micah that has the suspicious "treasure" company Endurance Exploration? He has total vertical control over the issued shares for EXPL from issuance to transference to selling. He even prints the actual certs! looks very suspicious to me. But I'm sure he is a "good" guy and would never manipulate anything to his favor for a profit. Just ask his fan club small caps and Buccaneer!
I noticed the 8K that just came out and it says the case with Micah was dismissed "with prejudice" and that all his shares were cancelled. That looks to be a clear win for SFRX--Good for them for not giving in to Micah's demands. I've read about this case in the SFRX filings for a while now.
So Micah Eldred demands removal of the restrictive legend on certificates for more than 30,000,000 shares and then begins a multi-year lawsuit when Kyle refuses(for legal reasons) to remove it and now the case has been settled and all of Micah's shares have been cancelled and Micah's case was dismissed "with prejudice." Interesting. Micah must not have had much of a case if he just walked away from over 30,000,000 shares!
Here is a quote form the SFRX 10-K filing about the case:
Litigation of the matter that has continued and the Company has presented evidence and arguments of law that the shares were distributed from their original recipient Micah Eldred, in an illegal sale to another corporate entity. The Company further contends in its pleadings that such shares were then illegally purchased back by Eldred then distributed in a manner by Eldred to others including the 31 other Plaintiffs to avoid reporting requirements under the Securities Act and as Eldred had a duty to report as a principal of a brokerage. 34,7000,000 shares to certain friends, family and employees (i.e. the Plaintiffs named in this Complaint) and kept ownership of 4,140,000 shares.
Looks like Micah should not have sued in the first place. How much did Micah's wrong-headed actions cost SFRX ?...as it seems clear that Kyle was legally bound to defend himself and the company when Micah made demands that were in violation of SEC Laws.
Did Micah Eldred commit a crime when he demanded that the legend be removed from SFRX certificates in the first place? If so, were there other crimes committed by Micah and crew?
Isn't this the Micah that has the suspicious "treasure" company Endurance Exploration? He has total vertical control over the issued shares for EXPL from issuance to transference to selling. He even prints the actual certs! looks very suspicious to me. But I'm sure he is a "good" guy and would never manipulate anything to his favor for a profit. Just ask his fan club small caps and Buccaneer!
(5)
(1)