Ann: Termination of Binding Agreement, page-59

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Ardhjk

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20/02/17

22:17

Post #: 22762595
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Originally posted by teerak ↑

Now they have terminated the agreement with This Toad it will be difficult to establish a basis for valuation as the previous price prior to suspension was predicated on the content and value of this deal .
We will have to wait and see if the board can establish an alternative deal or agreement with the second prospective investor and if this scenario occurs we will be able to examine the content and details and seek to establish a different valuation based on the revised data . The Company has alluded to the fact that it was or is in discussions with a secondary party or individual but at this point no further details or content has been released . As for pursuing legal action against this Toad this could also present some operational and legal difficulties and a conclusive outcome is not guaranteed . This is a binding deal between an Australian Company and a Private Indonesian Investor and it appears that under the conditions of this deal the only thing that this Toad can loose is his promised Board position and his initial 200K deposit .
If there were any other breaches or conditions within the contract that were broken and this was proven in an Australian Court of Law resulting in charges being laid would such breaches be enforceable and an International Citizen be held to the same level of account and prosecuted under the same conditions .
With his money and his influence and a corrupt judiciary I cant see much happening but as a matter of principle they should pursue him but that also could create tension and instability within the local region and potentially jeopordise future operations so its a very fine line .

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Teerak,
Your last parra is the reality of where the co finds itself. Throwing money at lawyers won't achieve anything other than aggravating the tension between the parties. If PM is as influential as many seem to think prodding him is not a smart move as he won't be happy until he has "trumped" GMC (pun intended)
Hopefully we all come out of this with our shirts still on our backs including the buttons!

GMC Price at posting: 4.2¢ Sentiment: Hold Disclosure: Held
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Ann: Termination of Binding Agreement, page-59

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