04-30-2020, 10:57 PM
(04-30-2020, 04:26 PM)HLV Wrote: ...so and the end of the day, these folk invested into a company. Became the majority shareholders, refused to fund the operation. Refused to sell the operation. Ousted all entities within the operation. Claimed creditor protection to absolve themselves from obligations to repay the operation. Sold the assets to themselves. Claimed bankruptcy to not pay obligations. Emerged from bankruptcy, allowed the old shares to continue to trade, while promoting their new operation. ...and what comes next, a successful commercial mining company operated by Deep Sea Ming Fund which is just Nautilus Minerals in all ways from Board Members, to staff, to equipment, to agreements, just without obligation to shareholders.
If laws were ever created to ensure the rights of shareholders, this is a case study in defrauding shareholders. They spent many millions and many years on this project and found a way to ensure they are a little more richer. Hard to fault the folks who have the means to do all of this, because without them this would be done a long time ago, its just the idea that there isn't really any idea of shareholder rights as the laws were written. Just some script to analyze to ensure your fraud is all copacetic.
For me my $$ investment is small, its just infuriating to think companies can just do this and get a rubber stamp of approval providing they pay enough money
I checked out the website and and they say they have full control of solara one and the parent company Nautilus Minerals. The rights to belonged to Nautilus and after they screwed over PNG , I do not think PNG would give rights to this new company. I think it is them buying up the shares on the cheap to get the rights to mine that are owned by Nautilus Minerals and Solara. Perhaps there still may be some hope. Not sure.