A Note on the Legals

by | Aug 28, 2019 | General | 0 comments

As many of you know, Oroco won the legal battle against Aztec a few months ago. The win was announced by the company by winning the Amparo in Mexico. With that being said, before this win, the company was fighting Aztec in several jurisdictions. I outlined the battle in the following article.

https://classicvalueinvestors.com/wp-content/uploads/2019/04/Aztec-Funeral.pdf

While the win in Mexico will eventually result in title registration in Mexico, this didn’t happen yet. I suspect that some investors are waiting for the registration to believe and buy shares. Last Friday, there was an Oral Argument in Arizona. The company already won in Arizona and the receiver has been appointed to hold a shareholder meeting to vote the Aztec people out of office and completely take control over Aztec in Arizona which is where Aztec was incorporated. But the problem was that Aztec was creating some noise as to the wording of the order. In other words, the receiver did not want to hold a shareholder meeting until certain language was inserted in the order to make sure that the shareholder meeting is conducted properly.

As of this morning, the Arizona court website has been updated with the judge’s order.

IT IS ORDERED advising the Receiver to go forward.
THE COURT FINDS that:

1. there is Fierce Investments, Ltd., owns 40,000,000 shares of Aztec Copper
2. there is only one class of voting stock, and
3. the amount of total stock shares is not disputed

Here is the link to the court minutes

http://www.courtminutes.maricopa.gov/viewerME.asp?fn=Civil/082019/m8852297.pdf

We already know that Aztec is finished. But some might still not believe it. Well, this is just another proof that Aztec is done. Aztec lost in Bahamas. It lost in Mexico. It lost in Arizona.

Now the receiver is free to hold the shareholder meeting. Fierce (meaning Oroco) will show up with 40 million shares and take complete control over Aztec Copper in Arizona.

Disclosure: Long Oroco

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About Mariusz Skonieczny

Mariusz Skonieczny is the founder of Classic Value Investors.