Hello DMG Membership,
We at the Board of Directors hope this email finds you all well! We recently had our Annual General Meeting this past Saturday on April 13th,2024, and there’s a lot of business we need to catch you all up on.
Firstly, we want to thank those who attended, and offer our apologies to those who were unable to make it. We were delayed significantly in getting our membership email out compared to notice on our Discord and social media, which we recognize prevented many from attending. We have been swamped with only the remaining 3 board members running the place, but that’s no excuse for our lack of communication on these important matters.
Now, on to the event catch up. At the following links you should find our AGM minutes including our records of votes, and our information package that was given to those members who attended. Alongside the standard notes on our financial summaries and board/staffing changes, there are two key issues that were discussed during this meeting that we want to make sure everyone hears about.We’ve summarized them here and included links to our website where you can follow up for more complete information, an FAQ, and join the conversation.
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Issue 1: DMG is Filing for Insolvency
In October of 2023, the Board of Directors did a deep dive into our financial record keeping, and discovered (among other issues) that DMG is in over $100,000 CAD in debt to a wide variety of sources. Since that time, the Board has been working tirelessly to eliminate these debts where possible, but we have to date been unsuccessful in resolving the issue completely. As such, the Board has begun proceedings to file for Corporate Insolvency through the trustees at Albert Gelman Inc.
Naturally, this has a wide variety of implications for the future of DMG and brings much of its financial history and record keeping into question. We are certain that many of you have pressing concerns and thoughts on the matter. We have included an in depth breakdown of this past years records and our actions on the matter as a board along with a list of questions that we expect will come up upon receiving this news on our website here: dmg.to/insolvency.
We at the board want to encourage anyone in or connected to the organization who has concerns about outstanding debts with DMG to review that FAQ. If your questions are not answered there, we encourage you to email us at insolvency@dmg.to, especially if you have any outstanding debts with us. We will be forwarding all verified claims sent to that address through to our trustees.
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Issue 2: DMG Future, and the Special Meeting to Vote on Dissolution
As mentioned earlier, this insolvency will create a variety of implications forthe future of DMG, most notably affecting our ability and chances to succeed with future grant and loan applications. The Board of Directors has decided, given grant organizations provide the majority of our funding, a variety of internal factors around governance and organizational stability, and on the advice of legal and financial counsel, that we are calling for membership to vote on a decision to file an Intent to Dissolve the organization as a non-profit corporation. We have scheduled a Special Meeting for the topic on May 11th, 2024 at 1pm EST to discuss and vote on the matter.
We have included further information on the process of dissolution, our financial and internal concerns, and an additional FAQ on our website here: dmg.to/dissolution.
This meeting will be held remotely via Google Meets, using this Google Calendar Invite link. We encourage all members and interested parties to attend. If anyone has specific questions unanswered by our FAQ, we’d like to encourage you to email us at dissolution@dmg.to.
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We hope to see you there,
DMG Board
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