Thanks Bank, but I disagree . It is not about who is moving in, it is about what we gave up for no reason. We had 100% but now have 29% of something we can't value. It doesn't matter who is part of this, if we can't value it thru a 3rd independent party, imo.
What is the rush to move to a private company??
This company is still functioning and finding a way to pay its debts. They have done this for the many years we have been here with and without GE. Most of the debts aren't being paid as we know and are reminded of. Wsgi still had a couple hundred million shares to sell with the announcement of a big contract. This could have moved the pps higher and raised capital to start the outflow of product. After this the WSGI management could have sought to spinout LTAS rather than doing it now. They would be in a better bargaining position, rather than now in the 29% position.
The tick in my craw about this is;;
LTAS could have been spunout by the company with a small portion of the shares given to the shareholders of record, rather than WSGI holding 10M shares of newco. They can do what they want with the shares of newco. It wouldn't have mattered to me if it was only 1 share per 100,000 or whatever to give us shareholders a piece of the upcoming contracts. But they did not.
They are greedy fools imo, and will pay in the end. I only hope to contribute to their demise. all imo If anyone thinks contracts aren't following this, they better get their head out of the sand.
