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Friday, October 10, 2008 10:26:54 AM
The main reason they are lowering the Par Value is to issue options to management below or at the current market rate only…. The company can’t do it below %.01/share and management is owed big $$’s in compensation that has not been paid by YA….. what will happen is if approved, management will be issued Restricted stock that is in the money in Lieu of the $$s that are owed… YA can not vote more than their 4.5%... the Fritz family is a lynch pin …. As are the common holders ….
Its all about conserving additional cash requirements to keep MNG bolted on….
Dr. Mike
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