To approve or not approve.
Arguments are being made for both sides. I believe that if Solms doesn't give a full accounting of:
*) Q3
*) The reasons for his failed execution so far
*) The current employee levels at the company
*) The plan of what he plans to do with the money from the 30-fold increase in authorized shares
then the RS should not be approved.
Approving based on "if we don't we'll go out of business" is a bunch of BS. The same pattern as the last two RSs will occur because it means that the management is hoping for a miracle. If they don't have a clue now, they won't have one in two months. If they can't retain employees now, they won't be able to in two months. If they can't develop a workable product that people want now, they won't be able to in two months. If they can't sell now, they won't be able to in two months.
The security market has been RED HOT and this company can't generate enough revenue to pay the rent. They need to explain how that will change.
Being "wrong" has been extremely profitable.
