I will admit that according to Williamsen's letter some of my assumptions were wrong but the letter also raises some new questions like the timing of when Manning et al became directors. I had always assumed it was at the May 11, 2011 shareholders meeting but I guess it was in Feb 2011. From what I remember the appraisal was underway in Nov 2010 but maybe the bulk of assignment happened in Feb 2011?
There was no mention if the current value of the library was right or wrong nor was there any mention of SEC involvement.
It's apparent that VV has been less than truthful with many of his actions. Hopefully Manning et al can come up with an accurate tally of the truth with the first SEC 10-K and 10-Q they file.
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