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Subject: Objection to Motion to Appoint Receiver
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within the real-world share price ranges for Calissio stock during the relevant time period) from
Nobilis or Beaufort, and then (erroneously) received a $0.011/share dividend, that shareholder
would have received a dividend of $11,000 in just a matter of days.
Should the shareholder have reinvested the stock, the shareholder would owe 11,000. With
Calissio shares close to .0001, this is a net loss for the shareholder of 11,000! Shareholders
were not in a position to determine what was happening behind closed doors and should
therefore not ultimately bear the financial burden of this situation.
Finally, COR also states post-payable adjustments are their only recourse. I disagree. Not only
can they sue the DTCC for the transaction but they can also approach their clients, Nobilis and
Beaufort, and find out more about Calissio. Both Nobilis and Beaufort provided funds based on
different due diligence parameters so it is likely that they hold sufficient information about
Calissio to explore other avenues for remedy. No evidence has been presented that COR has
reasonably exhausted all possible legal avenues available to them. In any case, prior to any
receiver being appointed, proper accounting and discovery should be available to interested
parties.
Respectfully,
Jaime Penarana