I agree with this poster-if you don't hold shares and leach off common shareholders, you do not get my vote.
By: johnhcfl4144
20 May 2008, 06:40 PM EDT
Msg. 12883 of 12884
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Proxy came today...how I voted..
I went with the recommendations with one exception. I withheld approval for the election of James Little.
As I have pointed out many times, James Little has been on the Board of Directors since December, 1995. During that time, the company has lost money 7 out of the 11 years, lost over $1.12 per share over that time frame, the share price has gone from $2.50 in 1996 to $1.10 today. The purchasing power of $2.50 in 1996 would need about a $4 share price today to keep even with inflation. After 11 years, the company has a market capitalization today less than what is was in 1996. This is shameful.
During the time frame, James Little has accepted well over $100,000 in compensation from MFIC. He has not purchased a single share of MFIC stock in the open market...not one..he has exercised options at $.41 and $.51 when the share price was well in excess of his purchase price. The Chairman of Board of MFIC has not purchase a single share of stock in the open market.
In my opinion, his performance and commitment to the shareholders of this company and willingness to share the risks of ownership do not merit reelection
Send stock manipulators to: enforcement@sec.gov-and to jail.
