Wednesday, February 06, 2013 1:41:35 PM
Please note the Ihub posting I made regarding the 8/17/12 Press Announcement. Old news.
Also, note the sticky that was posted several days questioning the spin-out of Saenz...suggested it was more logical and had been announced for Red Tide.
This S-1 only confirms.,
When this is approved by SEC, than it will be two separate managements, two separate companies. I was surprised that so much of RedTide was retained by Ayers and Salmon. I was also very surprized that a spin-off of this nature was not approved by the ALAS shareholders as required in the Articles of Incorporation and Bylaws. Did anyone receive a proxy? A notice of annual meeting? Read them yourself Bylaws and Articles of Incorpoation yourself, they are posted on the Ihub as links.
I am very concerned for the common shareholders. They owned 100% of Red Tide before the spin-out. Now they are being diluted to less than 20% by the spin-out. Nothing like given the baby away in the wash water. Shareholders have a right to get a better return. There is a lot of manipulation going on here.
It truly is nice however, that some old business is getting cleared up...
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