Sunday, October 20, 2019 12:46:35 PM
I think it's very possible that enough shares are held by Insiders that as long as they're in agreement, a vote isn't required to do anything. I've been in similar companies before where things normally requiring a vote went without a formal vote because Insiders held control. That probably is the case here, at least currently.
In companies where they didn't have control, I've seen investors decline on things like reverse splits, not because their could have been benefits, but because they wanted them totally open ended. A 1 for 5 or perhaps 10 would probably have been agreed on, but not one where the worst case was authorizing up to one for five hundred.
Whether a vote is required, or not, I don't believe that management will sell out investors with a low ball offer. As long as the data is a good as we believe, if we're bought out, investors will be satisfied.
Gary
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