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Crystal Springs Land (CSL) and Crystal Spring Virtual Capital (CSV) were halted last week at the reqest of CEO Skip Oceanlane so that he could provide shareholders with details of proposed merger of these companies. Even though I hold around 500 shares of CSL stock, Oceanlane didn't send me the notecard outlining the merger. When a friend gave it to me yesterday, I had grave concerns. You can find CEO Oceanlane's unedited notecard here.

I wrote a letter to VSTEX listing the issues that concerned me the most. VSTEX would inform me hours later that they had formally approved of Oceanlane's merger since their current rules did not actually address mergers. They also noted that the issues I had raised "may be founded" and suggested that I raise them at the shareholder meeting.

While I considered attending, my previous conversations with Oceanlane usually resulted in him flying off the handle, even when I was trying to help him. More importantly, I've been fighting trench battles over issues that don't reflect a personal financial interest for the last four months. What is needed is for shareholders with significant interests to protect those interests. You can find the concers I raised here

I wish all parties involved in this matter the very best of luck.

Update

I received a log from the meeting, which you find here. Given the contents of the log, I feel little need to expand further, except to say that my concerns stand.

Please see Proposed CSL/CSV Merger 'Withdrawn' for further updates.