Rami (Lebanese), Karim (Lebanese), Rania (Kuwaiti) Louis (French) and Hiba (Jordanian) wish to incorporate a Joint Stock Company as per the distribution of the shares as follows: Rami 51%, Karim 15%, Rania 5%, Louis 19% and Hiba 10%. They named in the statutes Rami, Rania, louis and Hiba as Board of Directors for six (6) years. Is the constitution of the Board valid as per the commercial rules? Three years after the constitution of the Joint Stock Company, the accounts of the company showed losses amounting to 85% of the capital. What is the adequate decision to be taken by the shareholders noting that they do not have any source of funds? The invitation for the meeting was duly sent to the shareholders and only Hiba, Rania and Rami attended to the meeting. The commercial register refused to register the minutes of that meeting: Why? Explain