Seven Arts Entertainment Inc (SAPX)

[otrain]

Since we know insiders don't hold much stock, why can't shareholders just vote down any additional R/S? It seems as though us shareholders need to take a stand. There are ~110 MM shares o/s; who owns these shares?

Theoretically, PH can issue another ~150 MM shares for let's say .02 average PPS, giving him up to $3 million purchasing power. So then he squanders that money rather than creating any value in SAPX. Concurrently, time is running out regarding the NASDAQ listing, with the only option of a R/S to maintain that listing.

But even a 100:1 R/S might not be enough, even if approved. A R/S certainly doesn't benefit shareholders; so why vote your proxy for it?

I'm struck with how little respect SAPX has shown for its stockholders. Why should we support anything management recommends?