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by Stockwatch Business Reporter

The TSX Venture Exchange rose 14.46 points to 825.38 Tuesday. Michael Koh has proposed to replace three of his fellow directors at shell graduate Ellipsiz Communications Ltd. (ECT: $0.09). Mr. Koh, the company's chairman and largest shareholder, has nominated KL Wong, Long Trinh and Ian Mallmann to replace Elliott Jacobson, Grant Sawiak and Mark Korol. Mr. Koh holds 68,186,690 shares or 42.3 per cent of Ellipsiz. He has requested that a special meeting be held no later than Dec. 16.

Mr. Koh, an electrical engineer who lives in Hong Kong, co-founded Ellipsiz as a corporate IT consultancy in 2007. He took Ellipsiz public on the TSX-V in November, 2015, through Chuck Lilly and Andy DeFrancesco's NEX shell, NXA Inc. (Both Mr. Lilly and Mr. DeFrancesco resigned from NXA on closing of the transaction.) Since listing, Ellipsiz has traded between six and 15 cents. This performance disappoints Mr. Koh, who "has lost confidence in three directors of the company and believes their removal is essential in order for the company to achieve its goals," including the standard goal of "enhancing shareholder value." It is not clear how much of Mr. Koh's disappointment is the responsibility of Mr. Jacobson, Mr. Sawiak and Mr. Korol, but chairman Koh appears to have no problem with Ellipsiz's president, Singapore-based engineer Sam Tan, or its chief executive officer, Taiwan-based engineer Hans Chang. Mr. Tan and Mr. Chang are also directors of Ellipsiz.

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