James, I could agree except do we really know what Hofmeister meant with the term “Fractional Shareholders” in the POR.
A) Holders of a fractional share (which we all seem to agree they're are no fractional shares)
or
B) Anyone not holding 100% of the shares in the company (which is everyone)
My honest opinion is B, and again I have to base this from the emails received from him after the POR had already been written. If anything changed since then great for those holding shares.
Everything I post is from my own DD and in no way is a recommendation to buy or sell a stock. Please do your own DD and decide if this stock is right for you. Thank you and good trading.