I respectfully disagree, If the institutions (which at the deadline I believe was about 43%) or voting no then there's no way they could get to enough votes to pass it. I'm certain the people on the three message boards told enough of a balance to turn down the vote. I believe they need a certain percentage of votes total in order to have enough votes to make such a material change.
How many shares do they actually have They could sell right now? Not enough to build a 250 million dollar manufacturing facility. Not enough to prove to a large investor or a company considering a massive purchase that they have plenty of money for operations to get their project done and continue with business as usual without running into money issues at some point during the process. Why would They sell any more shares than they needed to at the time when no one in the right mind expected the stock to go below $2. Anyone that truly expected the stock to go blow $2 knows a whole lot more about what's going on inside politics and the market than 99% of the population. Most people suggesting the stock was going to $2 or $1 or doing a reverse split we're doing so trying to play psychology games with traders and investors. And I don't believe they needed the money then or no I believe Few is being proactive. After all I don't think the discussions of a 250 million manufacturing plant we're on the table until sometime late last year. Although clearly they have had time to discuss the potential cost they still have not yet picked locations although it's probably part of a discussion.
We don't know they delayed the project to send the units to South Korea although that was my assumption. I believe there were other issues delaying which fuel cell energy and United illuminating are trying to work through, The abundance of red tape no one sees behind the lines. United illuminating made a request to modify the installation. I posted it just the other day. And you and I both know Max although it sounds like you're acting pretty ignorant right now, they're only running I believe 45 megawatt run rate. Can only do so much to maintain the money and keep the cash at a level that won't create concern among investors. 400 million is not bad if you're looking one year out. But that can be depleted quickly with large investment. And I'm not quite sure if you noticed, In the past you have done your diligence but it seems as though recently you slacked off, The requested an extension through 2024 on Derby. But currently it's expected COD by end of this year. And the United illuminating modification request states it's expected to complete construction by August 29th of 23.
I sent Galveston an email yesterday, And I'm hoping for a private or public response of some sort by the end of next week. In short I suggested a minimum of monthly updates being completely transparent with the status of everything they have pending so we have no surprises. And I told him that unfortunately the masses don't seem to believe or understand they may in fact be tying their own hands or cutting off their noses despite their face because of their frustration. If we limit the companies growth and investment opportunity We limit our potential growth with the shares. Vote no on everything you want but those who did not sell their shares after the deadline for the vote are in essence potentially screwing themselves. If they had taken on boatloads of debt or the last few years the company would not be an attractive investment to many people that it currently is.
