Friday, June 26, 2020 7:18:32 PM
It all comes down to entitlement, coupled with greed. There is zero respect for shareholders together with an arrogant attitude that assumes that there is one person alone who has all the answers. And now the stock is tanking because (1) they have allowed a key supply agreement to lapse, and (2) they appear to want to potentially dilute all their shareholders down to nothing.
With the cashing in of the below market options, the CEO, the widow, and the stooge now control somewhere between 40% and 45% of the outstanding shares. All they have to do is configure a couple of those new blank check preferreds and they can exceed 50% and do anything they choose with no repercussions.
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