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Atrinsic, Inc. Message Board

  • vertrosaht vertrosaht Apr 27, 2011 3:39 PM Flag

    Equity Financing from Trinad?

    The recent departure of Robert Ellin, whose company Trinad owns 30% of ATRN as of today is a wee bit suspicious given the history of this person. When ATRN was known as New Motion, Robert Ellin was on the BOD of New Motion 5 years ago, and then continued on the BOD when that co. was changed to Atrinsic. So we have a BOD member and a major shareowner (Trinad owns 30% of ATRN) for the last 5-6 years...who suddenly resigns, with no explanation from the BOD, right at the exact same time that ATRN is sniffing around for capital. It could be that Robert Ellin, via his company Trinad, may be wanting to do a cash equity injection, but if Robert Ellin remains on the BOD, he would essentially be voting to approve his own equity injection. Due to the SEC conflict of rules, the only way he could make that deal work is if he were not on the BOD...Does that explain why he suddenly rsigned. It could in light of the fact that management gave no explantaion for this man's resignation..stay tuned

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