ZA Group Inc (ZAAG)

[wallstreet1231]

Ben, the letter issued by the CEO stated they would respond within a two week period. Clearly this didn't happen. At least not for me as I have yet to receive a response and my information was supplied going on 4 weeks.

With the above said, I consider a response from the company to be of little value. The company doesn't get to play judge and jury with respect to validity of the shares. But why fight this battle now? Tuck them away and wait for the company to establish value through a reorganization and then attempt to exercise your right to convert. If the company refuses this would be time to litigate this matter. Now we would be litigating something of value. As far as I can see ARNH has no value so why fight over nothing. My opinions anyways.

PS I do understand the motivation for the company to address this matter now - it is in their best interest. They likely want to restructure the stock but with all of the outstanding preferred shares it might be difficult.