Few things noted about the AGM Notice.
1. TD owns 29.4 mil. shares (11%) but no mention of Portland. If they still own 25 mil. (no reason not to) they will have less than the required 10% forcing them to declare. Bader owns 25.8 mil. shares and Hogg owns 12 mil. shares.
2. I wasn't aware that Mint loaned Hogg $121k and $82k and that these were forgiven in the period ending Dec 31, 2012. Only positive is that the money was used to purchase shares and warrants. Nonetheless this forgiveness hit our balance sheet. I really dislike company that loan money to senior management.
3. As I previously noted, I can see some value to having Neil Gilday of PSSI on the board, but what value is there having Vishy Karamadam of Ubika Research on the board?
4. They state that a coordinated investor relations programme will accompany the Consolidation once completed. Further on in the document, it states that Ubika Research has been retained. One assumes that this may be what they are hired for. It also states that Ubika will be paid in excess of $75k per year for providing financial advisory services. If the record to date is any indication, this is a complete waste of money.