Thanks for the comprehensive debrief. I think the meeting today provided a "fair process" venue for all parties to listen and voice their concerns and do it professionally. Now that all parties are given the chance but also the mandate to bring their proposals to the floor and elaborate and clarify before the shareholders, we will hopefully have a more constructive process to move forward.
WRT today meeting some were expecting a tabulation and count on Proposal #2 but it can wait until Friday I guess to fully fulfill the inspector's timeline.
It is also useful and appreciated that the communication channel remains open via email and also thru this forum to insure all shareholders remain informed of the process. Listening to the folks here, the chief concern of almost all individuals is the risk of mistreatment of the ordinary "legacy" shareholders. Risks mentioned here were reckless dilutions, treating them as second degree citizens with lower priorities when it comes to distribution of any kind of proceeds and dividends, withholding/hiding critical information from them, or other common abusive conducts that are rampant in post-bankruptcy cases. Now that these and other concerns are voiced we will be collectively better off if we respectfully listen and address them. We do look forward to see TF's proposal and would assess it with the same open eyes we treated the current M&A proposal. You too seemed to be open but also welcomed this process which is very reassuring. At the end of the day one of the two proposals (assuming there will ever be a second viable proposal) shall prevail and the expectation afterwards is that all parties unify behind it and support it and more importantly to monitor its progress over time. Of course, if modifications are needed in the original proposal, all parties remain open to consider and approve as appropriate. Furthermore you suggested that you have in the past and will in the future be as accommodating as needed wrt other parties' legitimate demands and I think this is a plus in any successful business negotiation so long as the right and respect of the ordinary shareholders are fully respected and guaranteed. I do not think any shareholder in this venue would even remotely consider a proposal, as lucrative as it might be, that is NOT putting the ordinary legacy shareholders on equal footing alongside with other shareholders. So we welcome the other biz proposal, we scrutinize it, we make sure it offers a fair schedule of entitlement to assets and proceeds to ALL shareholders with no priority for certain individuals, we discuss it openly and with respect, we run our comps of the two proposals in terms of risks and rewards and time table, and at the end of the day we choose the one with better economics and lower risks, and then we monitor its progress while expecting accountability of those who implement it.
