ICU: Interesting how you and your girlfriend (same as me and mine) did not get proxies, Gan did not get one either he tells me. That comment from Chef Jon about he did not feel that the SHM was not PR worthy is a joke. They could have easily put it on their web site. What would be the cost to put it on their web site? Virtually nothing. They could have put the results on the web site also. Again, at no significant cost. Interesting how the largest shareholders got thier proxies. I think they sent out just enough for the quorum. At that time, I had less shares (under 200k), so that is probably why I did not get one. So, they wanted to keep this quiet, or they wanted to save as much cost as possible in not sending out proxies to all shareholders. They probably saved a bundle by sending only to the largest shareholders who they knew would obvioulsy vote yes to the first two items. If they announced the SHM by PR, then every shareholder would have been calling about why they did not get their proxy, etc. I guess that I can request it from the company if I call in. It is my understanding that every shareholder no matter how small has to get one, so obviously this was partly a cost cutting matter. They probably missed this shell problem and did not want to do a SHM in the first place, but that it became needed in order to make the application work. They could have been up front with the shareholders and posted on their web site that they are trying to keep cost to a minimum. They could have done the proxy electronically as well. And posted the proxy on their web site. All of this would have been fairly minimal in cost. I think the need to have one set them back two to three weeks, as it was likely unexpected and maybe even something that the SEC noted although their law firm probably found it since they are supposedly good. So, it sounds like they were trying to keep costs to a mimimum, but it still does not explain why they yanked the March PR, and why they could not simply put out a short message on their web site explaining how the OTCbb process is going. Maybe they hit another snag, or maybe they already sent the application into the SEC. If so, they my theory about negotiations is correct. It seems that way more an more, or it is simply not ready for submittal.
AI
