DNAprint Genomics (DNAG)

[frogdreaming]

worktoplay,

Now it's you who's stretching.

>>Of course, by your logic, we could just get rid of all those VP's, Boards, Presidents and such. They don't run the company anyway...lol


I said that the business plan was written and modified by VP's and Directors. I didn't say it was unimportant, just that it didn't constitute control.

I DID say that the control of the company was centered on the board of directors. The Chairman of the Board being the most significant member of that group. I find it interesting that a company that purchases over 50% of the voting rights to the company is only allowed two members on a six memeber board. Neither of the two positions being the Chairman.

So when you can demonstrate that DNAP has control of the BOD, either through having more than 50% of the membership or in directly electing a new Chairman, then you will have a case that the 51.7% 'equity' share is in fact 'control'. The limited ability to put two members on a six member board does not seem to be commensurate with their purported investment.

On a slightly different tangent, why do you suppose that Biofrontera is being allowed to put a board member on the DNAP board?
What did they do to deserve such a bounty?
There are only three members on the DNAP board now, so an additional member will have significant influence. Fully 25% of the voting power of the board. Since DNAP is only getting 33% of Biofrontera's board in exchange for over 50% of the equity, one wonders about what else is going on?

regards,
frog