"We have debt now and that is no good."
Excessive Debt without a way to repay is not good.
"After we get a vote we will have no debt and that is no good."
That is fine, but causes dilution due to increase shares but with not enough revenue to pay for ongoing operations either shares must be offered or more debt will be taken on. That is not good.
"Last quarter we had no profit and that is bad."
You mean since inception, what 15 years? That is bad.
"Next quarter IF WE HAVE A PROFIT that will be bad."
IF??? You don't know??? Profit would be good, but don't count on it.
"You think because Gerry has placed this company in a position to move to a higher exchange that is bad."
Where does it say he will do that? If he does what income is the company using to justify the share price? That's where P/E Ratio and market valuation come in to play.
"If we stay here then that is bad"
A step up would be moving back to a higher tier of the BB like TEVE was before. But without any money to do so, what would be the point?
"Because you feel that Gerry has , for now, retired all debt then that is bad."
Technically debt will be removed, but he gets the 25 plus million dollars in shares he can sell as he chooses, the increase shares will (as per proxy) dilute your current shares. Reason for this move is TEVE cannot repay interest on loans, much less principle as per statement in Proxy. That is bad.
"If Gerry loans them more money and they again have debt then that is bad.'
As per proxy, they are eliminating this debt to make company more attractive to potential investors, and because they cannot pay interest or renegotiate at an agreeable rate. They are also doing the increase in authorized shares to utilize them to raise money in lieu of Mr Lenfests money. More dilution for you. Getting more money from Mr Lenfest defeats the whole point of the share conversion in the first place.
I appreciate you giving me another chance to explain my points, utilizing the financials and proposed proxy in doing so. Good Luck to you.
