I am saddened to report that we will not be appearing at the Final Order hearing on Friday to present our case. I spoke to the lawyer at length this morning and although he was sympathetic he felt it would be best that we did not proceed.
He felt that the result of the shareholder vote and the Blair Franklin fairness opinion were too much to overcome despite everything else.
I stated that I didn’t think the vote was valid by making references to the transferred shares, as well as shares likely held by friends of Finskiy and shares voted in favour of the merger by those who were hoping to flip on the gap between CMM and WTG. His response was that although that may be likely, I can't prove any of it.
I questioned the validity of the Fairness opinion and the lawyer felt that our only chance at winning was to get a second fairness opinion but added that a 2nd opinion would be costly(more than $25k) and that we obviously don’t have enough time to have one completed.
In the end we didn’t raise enough money anyway. I am touched by those that did donate. There were people that donated but wrote to me that they didn’t even own any shares. In my mind Ex-shareholders willing to donate just because they want to see justice without any possibility of reward says more than any Blair Franklin fairness report. To everyone who donated, I say thank you for reminding me that there are still people who care and are willing to take a stand.
I have refunded every paypal donation and for those of you that used interac money transfers I have not accepted the transfer so please cancel it.
I can't thank all of you enough. The massive support by minority shareholders is what gave the cause it's energy. I only wish the outcome could have been different.
Good luck everyone
Dennis
