Let's Talk Chinese Wall
posted on
Oct 22, 2010 03:37PM
Form 8k June 12, 2008 For Alternative
Alternative Construction Technologies, Inc.
ITEM 5.02 DEPARTURE OF CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On June 12, 2008, the Company announced the appointment of two directors, Thomas Dawe and Carlton M. Johnson. These directors were appointed in connection with the recent financing with Bridgepointe Master Fund, Ltd. and CAMOFI Master LDC (the “Lenders”). In connection with that financing, the Lenders retained the right to recommend two nominees to the Company’s Board of Directors. The Lenders recommended Mssrs Dawe and Johnson to these positions and the Company’s Board of Directors approved their appointment. The Company and its Board of Directors also agreed to use their best efforts to obtain shareholder ratification of the appointment of the new directors at the next shareholder meeting. After any and all amounts due and owing under all of the Notes issued in connection with the financing have been repaid in full or after the Maturity Date, whichever is later, the Company agreed to allow these directors to rotate off of the Company’s Board of Directors after they serve out the remainder of their terms (but the directors are not required to resign). The Company also agreed to execute Conflict Waiver and Acknowledgements that the directors, shall be subject to a “Chinese Wall”, meaning that inside nonpublic information that the directors shall possess will not be imputed in any way whatsoever to the Lenders.
Have you ever been curious as to where/how Carlton Johnson conducts business on behalf of PTSC?
For example: He works full time for Eric Swartz of Roswell Partners offices located in Georgia
What did the office look like back in 2005-2006 compared to today?
How far away from Eric Swartz and Mike Kenrick did Carl Johnson sit?
Could they or anyone else hear Carl Johnson when he spoke on the phone, espcially about PTSC business?