With respect the last post is alarmist and not helpful, simply because nothing has changed. From last ANN with my emphasis:
The temporary injunction previously placed against Manukan to transfer and register the Preference B Shares in their name was discharged. However, the share certificates are to be held in escrow and Manukan is legally restrained from dealing with the Preference B Shares unless the Call Option is found to be enforceable. If the Call Option is ultimately found to be unenforceable, transfer of the Preference B shares to Manukan would be rendered invalid and the shares would be returned and held by Memphasys. Legal advice received by Memphasys is that the net effect on the Company’s overall position in the legal dispute with PrIME and Manukan remains unchanged."
Surely sooner or later common sense must prevail and the Court cases will be settled. If not then they'll eventually be determined on the merits, not on baseless, outrageous claims that fly in the face of common sense e.g. like their claim that they own our machine in Singapore that they have previously been paying rent to use!
A cynic might think there is a deliberate campaign to support those in Singapore who have been trying unsuccessfully for years to destroy our company and eliminate a possible future competitor. Happily very few long term holders appear to be suckered into selling at these low levels.
GLTA long term holders and believers in the tech.
Kind regards,
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- Ann: Outome of legal action on preference B share call option
With respect the last post is alarmist and not helpful, simply...
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