The "investors" of this company have believed whatever bs the management and BoD have fed them over many years including:
*) Break-even based on business in hand
*) breakeven based on whatever
*) Management can't buy shares due to legal concerns
*) WXP is worth millions
*) having an office in a family member's apartment is good news because it is "close to Wall Street"
*) Good things are coming
*) The former ceo was a genius
*) The gorillas love the company
*) Huge stealth deals are happening
*) The pie chart shows growth
*) The pipeline is full
etc, etc, etc
Not only that, when the numbers told the true tale, those same "investors" made it clear the numbers were lies and should be ignored.
I believe if the management and BoD told shareholders that the sky was green, the majority of "investors" would still believe them and vote the way they are told by the BoD.
Additionally, if the BoD decide to distribute those additional Class B shares to get what they want, they will.
Being "wrong" has been extremely profitable.
