My prediction:
If another shareholder meeting of Xechem International is held, it will not take place until each of the following events has occurred:
(1) The pending litigation with Dr. Pandey in India has been resolved;
(2) The pending litigation in the New Jersey State and Federal Courts has been resolved; AND
(3) Whatever corporate action may be needed to maximize the financial position of the hedge fund participants has been achieved.
In my opinion, the pending litigation has been used as a justification for the termination of all meaningful communication between management and shareholders. While it may be inappropriate for management to comment on pending litigation, it does not follow that managment may not provide any information to shareholders.
And there has been some good news to report. For example, management did not provide the updated construction photos featured in the ibox (which show significant progress), and management did not inform shareholders of Mr. Oniyide's recent, important statement to the Nigerian press. That information was provided by IHUB posters, with no assistance from management.
I find most interesting the suggestion that management has terminated all communication with shareholders because the release of any information at the present time would adversely affect share price. Hello????? The share price has fallen approximately 90% since the imposition of the "great wall of silence." Do you really believe that this was done to benefit the retail shareholders?
To be candid, my only hope for recovering all/part of my investment here is that -- at some point in the coming months -- managment will undertake a course of action to benefit the hedge fund participants that will also, incidentally, benefit the retail shareholders. (This hope is premised on the assumption that, regardless of motive, current management has the scientific and corporate expertise required to achieve a favorable outcome for Nicosan and all financially interested parties. This is by no means a given.)
For all of his flaws, when Dr. Pandey was running the show, I at least had the feeling that he was somewhat interested in the shareholders. The performance to date of current management inspires no such feeling.
Please forgive the length of my rambling, which should be regarded only as my opinions and speculation.
BDB
