Tuesday, March 22, 2011 3:08:49 PM
Here's one of the things that really bother me: higher level exchanges require independant directors on boards. We are being asked to authorize a reduction in the board to less than three members, which could and likely would eliminate any independent directors. Thus, it would appear that there is no intent to uplist.
Along with the drastic cut in the number shareholder votes required to elect a director, and the reduction in number of shares represented to have a quorum, it appears that minority shareholders are being stripped of any ability to have any oversight/effective input into the company's direction.
I am beginning to smell a plan to take this company private or sell out to a friendly party at the expense of the small shareholders, including ME!!
I have really liked this company for a good while, have continued to hold shares, and have promoted this company to other investors, all based on a great product line and good management. Am I now going to get screwed out of my just desserts??
Can anyone refute my first point?????
Magic
Along with the drastic cut in the number shareholder votes required to elect a director, and the reduction in number of shares represented to have a quorum, it appears that minority shareholders are being stripped of any ability to have any oversight/effective input into the company's direction.
I am beginning to smell a plan to take this company private or sell out to a friendly party at the expense of the small shareholders, including ME!!
I have really liked this company for a good while, have continued to hold shares, and have promoted this company to other investors, all based on a great product line and good management. Am I now going to get screwed out of my just desserts??
Can anyone refute my first point?????
Magic
Opportunities always look bigger going than coming!
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