Q Do you guys have any examples of any of these minutes, Nikki?
A Yes, I do, actually. Um, and so let me read and, and talk about what's wrong with these minutes. Quote, after discussion, the board unanimously voted in favor of authorizing the company to issue one million shares of the company's Class A common stock, uh, subject to the appropriate organization of And this is a subsidiary, and I'm not going to name a subsidiary, as an unaffiliated legal entity, and approving the secondary, including, among other things, authorizing the company to file a registration statement on Form S-I and take such other steps as appropriate or necessary in connection with the secondary offering. Unquote. That is the record of the board's deliberations of the registration statement and its accuracy. That is not a good record. That was a, it was actually a conversation about the secondary, and then the board authorized management to file the registration statement. So it actually undercuts, not just as inconsistent with, but undercuts a due diligence defense, because it said, it basically says, It authorizes the management to file the registration statement without the board reviewing it. It could actually be read that way.
AI assessment note: “Yes, I do, actually. Um, and so let me read”