Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Why are the GG suddenly so keen to engage in constructive dialogue with FRR?
I've posted a possible explanation on the'Georgian election' page. Unfortunately, I don't know how to link it, but if you use Aurora1's link (21.23 today - thanks Aurora), you'll find my post immediately below his. If I posted it here, the organised anti-FRR posters would have it deleted out of blind habit.
Now this is curious. My original posting under this heading has disappeared. In it, I copied the purported admission of someone who claimed to be spilling the beans about organised gangs of professional trouble makers employed to mislead investors through the misuse of BBs.
Someone must have complained. Yet I used no banned words, the article was clearly in FRR's interests, was apolitical and was in no way scurrilous. Why was it erased? It seems clear that this company, and this BB, is still in the hostile gaze of the professional groups mentioned. That means that their paymaster is still willing to pay them money to work towards FRR's (and our) disadvantage - even though we are delisted! Paradoxical though it seems, that still gives me hope.
Mind you, the fact that these num pties are still bothering us does imply that a paymaster is still concerned that FRR might succeed. That does give me some hope.
Any moves against FRR, or other western firms, by the GG are very likely to have been stopped, or at least postponed, by international responses to recent events within Georgia of which, absurdly, I can report nothing.
There is one other Frontera v Hope/OMF case, of course, and that's the Californian fiduciary one against Hope which has been pushed back (by both parties) to finish in May next year. The outcome of that case is now linked to the Outrider v ZM & SN personal case, which has also been pushed back (by both parties) to June next year. It appears that all concerned believe that the ZM & SN case is dependent on the fiduciary one. I can only assume that both of these sides are allowing time to get the current mess simplified (and ZM knocked out of the way?) before proceeding to knock spots off each other in California.
Even though it is currently worthless financially, the company, as a private limited entity, is most certainly not extinct. (Extinct companies aren't normally involved in multiple legal cases in the American courts!).
As shareholders, we still have an interest in the company, hope that it overcomes it's present difficulties and that it becomes financially viable (yes, I know, there are mountains to climb).
As Dave73 and Jackpack have pointed out, the previous registrars will have given Frontera a full list of holdings - and all brokers, as nominees, will have the ability to pass on communications from a company to it's shareholders. At the moment, ii and some other brokers have chosen to "remove FRC from holders accounts". That's just a decision of the broker, and I would think that, one way or another, that removal could be reversed or worked around.
Either way, the BOD can still talk directly to us if they have a mind to. Perhaps that's too much to hope for? It shouldn't be.
Oh yeah. As I understand it, the court case was about FRC trying to get an injunction against ZM to prevent him from continuing his efforts at taking over the company's assets in Georgia.
Yes, the injunction was granted.
Hi toatie - The Texas court judgement can be read in full on Proper123's post of 14/06/21 at 18.58 onwards (5 parts) - my very grateful thanks to Proper123. It's a good read if you like that sort of thing and it concurs, I think entirely, with FRC's explanation of events in Georgia with regard to ZM. I've selected the following edited extracts which, IMO, illustrate the judge's opinion of ZM :-
"(ZM) is in the process of stealing (FRC's) assets and operating them for his own benefit".
"(ZM's) actions constitute conversion of personal property belonging to Frontera. (ZM) has stolen the Company Opportunities".
"(ZM) is trying to steal the company, take the Company's Opportunities and convert it's assets to his own use".
"(ZM) no longer has any assets in the U.S. His company car has disappeared. He has stopped paying rent on leases he and his family entered into (in the U.S.). (ZM) was wiring money from Frontera accounts to himself".
'nuff said?
Apologies for the duplication.
All the same, it would be nice to know who, or what, excited the broadcaster's interest in producing a 17 minute video.
It would still be interesting to know who, or what, excited the broadcaster's interest in producing a 17 minute video at this time.
As he was talking on the video, it's very likely that the broadcaster has received ZM's side of the story - perhaps because he approached them in the first place? (I suppose that he would like to get some public support in Georgia). It must be doubtful that he gave them an objective account, or too much detail about the Texas court judgement and the judge's opinion of his honesty and integrity!
I also wonder if the broadcaster asked the real Frontera for their side of the story and, if so, what response they received?
Thanks, Gambler. I don't pretend to fully understand large chunks of that update, but it's good to try and get the gist of what's going on. Good work.
From Part 2 of Proper123's TRO extension entry of 18.59 yesterday :-
'On April 24, 2020, FRGC and FRUS reconfirmed that FRUS now owned 100% of FRGC's interest in FEG, but for reasons unbeknownst to Frontera the assignment of shares to FRUS was never properly reflected in the Public Registry of the Government of Georgia, so FRGC incorrectly remained as the registered shareholder instead of FRUS, and Mr. Mamulaishvili has taken advantage of this administrative error'.
So, after intensive argument, the Texas court concluded that the basis of ZM's ownership of the PSC was simply based on an 'administrative error' (i.e. corruption) by the GG. That's pretty damning against not only ZM and the GG, but also FTI, who so hastily jumped to the conclusion that FRC's transfer of the asset to FRUS must be out of order. It's left FTI looking, at best, very inefficient, if not incapable.
Thanks, seisprocessor.
Did anyone note the starting time for tomorrow, please?
The judge just said about 10 more minutes.
It's 18.45 in Texas now. Don't suppose it will keep going much longer tonight.
It's back.
It's just starting.