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To: truth_seeker
"It will take a simple review of the Articles of Incorporation, and Board of Directors meeting minutes to settle this. Gilchrist is a CPA, so he should fully understand this stuff."

"Even if he is the sole board member, there are minutes, prepared by the corporate Secretary. Right, responsibilities of these parties would be found in written documents."

CPA notwithstanding, your second paragraph brings up the matter if corporate meetings were actually held (which often doesn't happen with 1 or 2 or 3 directors), AND were the minutes actually transcribed into the corporate book if said meetings occured, even if by casual discussion in a small group.

"The judge could have quickly reviewed these. If Gilchrist is worth his salt as a manager, he would have marched into court and handed these documents up to the Clerk."

That's what I would have had my attorney do, immediately. I've been the chair of [3] corporations - I know how it works. That's why I am questioning Gilchrist. Like I said above, unless Delaware has some obscure law regarding "advisory commitees", this should be a slam dunk. I'm starting to wonder...and that's a shame since I supported his original MM efforts. I've since pulled back because of all the in-fighting amongst all the illegal-activist groups.

20 posted on 03/22/2007 11:36:31 PM PDT by A Navy Vet (In perpetuum sacramentum)
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To: A Navy Vet

"I've been the chair of [3] corporations - I know how it works."

I am Secretary of a Calif. 501 c.3. not-for-profit public benefit corporation. Small $ involved, but our Treasurer is a CPA, we file tax returns on time, and keep a minute book.

The minute book reflects changes in corporate directors, officers, spending authorizations, etc. Our banks require said documents, when setting up accounts, as does our landlord when we sign leases.

I can only conclude Gilchrist is not competent to run an organization like this. As a CPA he would know better. He was obviously a good recruiter, fundraiser, publicity seeker, etc.

I assume somebody helped them with legal issues involved with the conduct of their activities in the field, which seem to have been very disciplined. Maybe that was the extent of legal involvement.

Had I been that lawyer (I am not a lawyer) before going to the field, I would insure the legal formation matters were tight as could be.


25 posted on 03/22/2007 11:54:40 PM PDT by truth_seeker
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