Futurist7 – I understand the breadth of shareholder discontent, but let’s not let emotions precede logic.
First, I don’t anticipate that we’ll get to the point of ‘calling the question’ at a shareholder meeting. Perhaps it’s nothing more the hope, but I anticipate the EPA will approve AS before it will be necessary to seek additional share authorization. Much of that hope is based upon the new EPA lawyer/consultant. If the EPA doesn’t approve AS timely, we have serious issues. If the EPA does approve, the question remains as to MZEI’s capacity to become a substantial operating company, and to what end over what time, versus selling out to a suitor more capable of exploiting the technology both from a financial as well as health perspective.
2nd, if shareholders are so disgruntled so as to not authorize additional shares, they are, in effect, saying they would be willing to see the company bankrupt. If such is the view, they would be better to sell now and gain a few cents. Because they don’t sell now, they still hold a glimmer of hope and that hope is only extended if they approve the authorization, if needed. I fully appreciate that many shareholders will want to see different leadership in that event. While some shareholders don’t want to do this, even if the share count was eventually doubled, gaining 50% of something is still better than 100% of zero.
3rd, selling additional shares is not the only way management can try to perpetuate this. They may try to borrow money, although I doubt any sane person/entity would lend money absent gaining the patents as collateral. I don’t see that being in shareholders’ interest. Management could try to structure some form of partnership rather than an outright sale of the company. That may or may not be in shareholders’ interest. As has been discussed before, apart from the patents and perhaps some initial transfer of technical expertise, what would a partner see in MZEI that would incent partnership rather than acquisition interest?
From a 30,000 foot view, I think NSD understands and set forth the options in front of MZEI and while I might extend his timetable to mid-2016, I believe we see this similarly.
AI
