Hey Warren, if the other shareholder is in your corner, it would appear to me that you do in fact have Lou over a barrel.
If the other shareholder realizes this place will burn to the ground without Lou, then you might not be doing as well as you think you are.
I hope you have LOU’s and the other shareholder’s financial best interest in mind, Correct?
Not doing so would be a breech of fiduciary duty you know.
Check with your attorney.
That said, I’ll offer some sage advice.
You can take it, leave it, put it in the circular file, I don’t really care.
Between the two of you, you have both caused much unwanted and un-needed damage to our Affiliate Industry. You should both be ASHAMED of yourselves.
Frankly, you seem to have almost NO REMORSE, IMO.
If you are thinking that CAP will survive without Lou here, you are delusional.
You and the other shareholder probably need to consider that basic financial ramification, and avoid a lawsuit, or even criminal charges for breeching your Fiduciary Duty to the Corporation. Yes, Lou could easily bring those charges against you.
Of course that could also apply to Lou, although you are the one that has seized control with a lessor percentage of the company than Lou himself, eventhough I acknowledge that he does not have controlling interest of Affiliate Media, he can still cause you a ton of grief.
Pretty dumb on his part, but I suspect you know this.
He should never have given up more than 49%.
Does this OTHER shareholder in Affiliate Media agree with your actions?
Afterall, you are the one being accused of stealing money from the company, making unilateral decisions without prior Approval, and running the company into the ground.
Frankly, I’m not sure it matters anymore. Too much damage has already been done.
You both ran it down by lying and deceiving everyone.
If you had a lick of sense, you’d be on the Phone to Orlando right now!
That’s your only chance, IMO.
JMO, and I’m sure this will result in your SECOND banning, but that’s OK.
Not a big deal anymore.