Re: .03 now - Sudbury/Earl Takefman
posted on
Aug 23, 2013 11:58AM
New Discovery Resulting in a 20KM Mineralized Gold Belt
"THE GREAT HOOV has an obligation to the Company and the shareholders, NOT TO THE OTHER BOARD MEMBERS. He has a right to inform the shareholders himself, as Bill Ackman has done with JCPenny, about our company and how we will survive."
Larry Hoover is a member of the BoD, not the President or other executive. He does not have any duty to inform personnally or directly the shareholders, and I will add that if he happens to do so, he could well be in breach of his fiduciary duties. This is the Board which is accountable to the shareholders, not the individual directors themselves. The presence of Larry there is good news for us, but please do not expect from him what he cannot deliver. His influence will come out from his inside position, informal talks and timely alliances with other fellow directors. This may take some time. So be it.
GLTA.