Ric
Executive Administrator
$2.5 million for the 45 million ETGMF shares
« Thread Started Yesterday at 10:21pm »
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Has anyone else heard of this. Pedro claimed that Entourage offered Tyler 2.5 million dollars for the Entourage shares and Tyler turned them down. I haven't heard of this before, has anyone else. I have repeatedly asked it over there be he is concentrating on the fact that he thinks they could do and seems not to want to provide where it came from. So maybe I missed something. Does anyone else remember this because it seems that would have been a hot topic.
Ric
Executive Administrator
Re: $2.5 million for the 45 million ETGMF shares
« Reply #1 Yesterday at 10:22pm »
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Pedro2004
The Cook
member is offline
A few years ago when ETGMF was trading around 0.25 cents, Entourage was willing to give Tyler $2.5 million dollars for the Certificate.
Tyler said "No" for whatever reasons there may have been.
This Reverse Split is Entourage's way of saying "F##K-OFF."
Ric
Executive Administrator
Re: $2.5 million for the 45 million ETGMF shares
« Reply #2 Yesterday at 10:23pm »
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This was in a thread talking about where Entourage is doing a 20:1 r/s and states that the 45 million shares has no voting rights.
Ric
Executive Administrator
Re: $2.5 million for the 45 million ETGMF shares
« Reply #3 Yesterday at 10:23pm »
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Ric
Cannoneer
member is online
As restated by Entourage, these shares supposed to have went to shareholders. They are not the companies even thought they tried to steal them from us. That is one of the reason Entourage is suing to get the shares back. And they will propably right because CMKM did breach the contract by not giving them to us.
The shares are absolutely worthless until they are given to CMKM shareholders as clearly stated in the agreement. Until distributed the shares will remain restricted and have no voting right. And while restricted they can not be sold on the market. Just because the two year wait has past it means nothing. That is only when they can become unrestricted. It doesn't mean the will be unrestricted. That is left up to the company and the SEC makes it clear they will not get involved in such matters.
Not that they are worth anything now anyways, especially when we would only get 3 shares for every million shares of CMKM after the r/s.
Ric
Executive Administrator
Re: $2.5 million for the 45 million ETGMF shares
« Reply #4 Yesterday at 10:24pm »
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Pedro2004
The Cook
member is offline
Ric,
Entourage and CMKM had a right to "rewrite" and "amend" the contract to fit their needs. And if Entourage and CMKM both came to an agreement, the whole contract would have been declared null and void!
GET IT?
Ric
Executive Administrator
Re: $2.5 million for the 45 million ETGMF shares
« Reply #5 Yesterday at 10:25pm »
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Ric
Cannoneer
member is online
Get what, of course anyone can rewrite contracts if both parties agree. Not getting your point to my statement. The fact remains that both parties didn't agree. Entourage didn't won't to change the agreement and CMKM didn't live up to it. If one party breaches a contract the other party has the right to nul and void that contract and that is why they are taking CMKM to court and will win. One party can't force another to change a agreed contract only both parties can do that. Doesn't matter anyway. Looks like they don't care to fight it in court but rather they will r/s us out of the picture. Entourage wanted dedicated shareholders that once they got they would have new buyers and they didn't get it. They don't want a new owner which CMKM would have been if they got the shares and Entourage wasn't about to give them their company. One of the shareholders went to Tyler and asked about the shares before the lawsuit and Kevin said that the company could take the shares for the betterment of the company which showed Kevin's lack of understanding of business and this is what we ended up with. Nothing. Because they ran off on a goose chase with the cert pull and couldn't afford to give us our shares.
Ric
Executive Administrator
Re: $2.5 million for the 45 million ETGMF shares
« Reply #6 Yesterday at 10:25pm »
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Pedro2004
The Cook
member is offline
Ric,
Two Parties must agree to enter into a Contract. That's what CMKM and Entourage did; two parties that entered into a Contract.
If the Two Parties agree to cancel the Contract, then the Contract is canceled.
If the Two Parties want to "AMEND" the Contract by "VOIDING OUT" certain Clauses of the Contract and "ATTACHING" Amendments to the Contract; if the Two Parties want to "CHANGE" the Contract they can do so!
Entourage offered money to cancel the Contract. CMKM declined the offer. Therefore, both Parties "DID NOT AGREE."
The "CLAUSES" of the Contract that stipulate the Shares were earmarked as a Stock Dividend would have been "VOIDED OUT" if CMKM agreed to the cash payout.
And before you start jumping to: "But there has to be a Shareholder Vote"
There was never a "Shareholder Vote" to sell the Claims in the first place .... Was there?
Ric
Executive Administrator
Re: $2.5 million for the 45 million ETGMF shares
« Reply #7 Yesterday at 10:26pm »
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Ric
Cannoneer
member is online
I wasn't arguing anything you said. I made a point to something Cow said. And again I ask, not that it isn't true, but where did the $2.5 million dollars for the shares come from? And if it is true then Frizzell is a bigger idiot then I thought if he turned down 2.5 million for those worthless shares. Not sure where a company that is as broke as Entourage is could afford 2.5 million anyways.
But since you did bring it up, again. 30 million shares of the 45 were not a contract between CMKM and Entourage. They were a contract with Koch (1010) and Entourage. CMKM can not void a contract that they were not party to. Koch could. CMKM was only a holder of the shares which were to be distributed to CMKM shareholders. I agree that the 15 million shares were from a contract between CMKM and Entourage.
Ric
Executive Administrator
Re: $2.5 million for the 45 million ETGMF shares
« Reply #7 Yesterday at 10:26pm »
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Ric
Cannoneer
member is online
I wasn't arguing anything you said. I made a point to something Cow said. And again I ask, not that it isn't true, but where did the $2.5 million dollars for the shares come from? And if it is true then Frizzell is a bigger idiot then I thought if he turned down 2.5 million for those worthless shares. Not sure where a company that is as broke as Entourage is could afford 2.5 million anyways.
But since you did bring it up, again. 30 million shares of the 45 were not a contract between CMKM and Entourage. They were a contract with Koch (1010) and Entourage. CMKM can not void a contract that they were not party to. Koch could. CMKM was only a holder of the shares which were to be distributed to CMKM shareholders. I agree that the 15 million shares were from a contract between CMKM and Entourage.
Pedro2004
The Cook
member is offline
Ric,
FORGET ABOUT THE 30 MILLION AND 15 MILLION BS!They wanted to buy the 45 million shares certificate. NOT the 3.8 million share certificate!
CMKM was issued the 45 million shares certificate. _ NOT Koch!
Koch does not give a SH## about the 45 million shares
GET IT!Ric
Executive Administrator
Re: $2.5 million for the 45 million ETGMF shares
« Reply #9 Yesterday at 10:27pm »
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Ric
Cannoneer
member is online
Why you yelling at me, I am not the one trying to buy and sell something that isn't mine. Why should I forget facts.
Besides I asked where the 2.5 million offer came from. You seem not to want to answer that.
Ric
Executive Administrator
Re: $2.5 million for the 45 million ETGMF shares
« Reply #11 Yesterday at 11:29pm »
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Lets just assume for a minute that Frizzell told Pedro this because we know Frizzell wouldn't tell just one person something and not everyone else. Here is some serious questions if we forget about the fact those were our shares and not theirs to sell.
1) How does a company that can't pay their bills and can't even pay for drilling come up with 2.5 million dollars to offer this deal?
2) Entourage has a O/S of 76 million shares meaning if you subtract the 45 million that we hold leave 31 million shares. If you take that a average company has about 50 - 70% of the shares in the float and estimate that Entourage probably has 20 million shares on the market and at the time of the so called offer the shares sold at .25 then dumping 45 million shares on the market would be like a 3:1 forward split in terms of share price. That would mean that the shares would automatically adjust to around .08 -.10 a share. Not to mention having to find that many new buyers when dumping that large of shares driving price to bargain basement levels.
Saying that proves Frizzell is clueless if he thought that he was getting .25 by holding on to these crappy restricted shares that would only be unrestricted if distributed. How could he be that stupid not to take $2,500,000.00 for these shares. They already proved they could care less about the shareholders rights. So they obviously thought they could get more. Their greed is killing us just like the cert pull did.
I just don;t get this at all. Something stinks in Denmark.
chrisl
Crossfire Administrator
Re: $2.5 million for the 45 million ETGMF shares
« Reply #12 Yesterday at 11:37pm »
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Yesterday at 10:21pm, Ric wrote:
Yes Ric I am aware of this. As a matter of fact I was told by someone who shall remain nameless but you can guess if you want that why would they accept this when the possibility of the claims could be worth 10 times that.
Another bumbling mistake by the attorney I would say.
Ric
Executive Administrator
Re: $2.5 million for the 45 million ETGMF shares
« Reply #13 Yesterday at 11:47pm »
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If the claims were worth anything then Entourage wouldn't have them. A real company would. But then too Debeer's even wanted out of the area because the cost to mine was more then what they could get out. The only ones willing to buy these claims are scams but Frizzell and Kevin could never understand this.
But it still boils down to the original contract that states the restriction was not going to be lifted until the shares were distributed. It wouldn't matter if the claims were worth a fortune or the shares were. You have to be able to sell something before it has value.
If true, turning down $2.5 million dollars is still stupid. Not that I trust anything that comes out of Tyler anymore.
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