OMG, the principals of this company, through their management decisions, have caused the market cap of this company to be 100% less than the cash sitting in a bond. The cash sitting in a bond exceeds $500,000, and the value of the company is right now at about 250k. Unbelievable. This has to be a first, a company worth 100% less than the actual cash considered its asset.
Eventually, we will see for ourselves whether the company pulls through and retains or makes better our shareholder value. Or whether we will see if the principals enrich themselves over us. Accordingly, you may want to see this, and keep it in the back of your mind as we keep watching our shareholder value get diluted, versus what the principals eventually end up with themselves:
Go to wikapedia, and look under "Conflict of duty and interest" This is what you will find, "As fiduciaries, the directors may not put themselves in a position where their interests and duties conflict with the duties that they owe to the company. The law takes the view that good faith must not only be done, but must be manifestly seen to be done, and zealously patrols the conduct of directors in this regard; and will not allow directors to escape liability by asserting that his decision was in fact well founded. Traditionally, the law has divided conflicts of duty and interest into three sub-categories.
Transactions with the company
By definition, where a director enters into a transaction with a company, there is a conflict between the director's interest (to do well for himself out of the transaction) and his duty to the company (to ensure that the company gets as much as it can out of the transaction). This rule is so strictly enforced that, even where the conflict of interest or conflict of duty is purely hypothetical, the directors can be forced to disgorge all personal gains arising from it."
JMO gg
AI
