Sphere 3D Corp. (ANY)

[Hugodrax]

Are you aware what an AGM is? It's not a pump fest - it's a legal requirement and to allow shareholders to elect directors, appoint auditors, approve stock comp, etc.

Most shareholders don't even attend but vote by proxy.

Sorry but that makes little sense.

An AGM is an ordinary course event. If they want to "prove" traction they can easily do so with press releases, the Q2 results, the conference call, or even a special "business update call" or even an "investor day".

It also makes little sense in light of:

1) Q2 results have to be released by August 15.

2) ANY can file the proxy circular anywhere between 21 and 60 days of the AGM.

3) That means they could have filed the proxy circular alread and had the meeting in conjunction with, or 1 week, or 2 weeks after Q2 results.




Sometimes the simplest explanations are the right ones. Usually, actually.

IMHO either they don't want people to see the circular for fear of rage (watch the EK bonus disclosure), or they want to wait until the last legally possible second to face the rage of shareholders.

Another explanation is if they have to do a reverse-split they can do it at the AGM at the same meeting. Actually that makes a LOT of sense now...



I'm actually 50/50 that one or both of EK and PT quit before then.


All IMHO.