If they are converting the B to A shares that is quite interesting. In my opinion complete and utter hogwash the B shares were to protect from an unwanted takeover- who on earth would be wanting to take over this company ? Comments like that from CFO make me think he might be morally challenged- kind of like the comment the reverse as for benefit of shareholders.My own belief that the Class B shares CFO wanted to control to make his life simpler, and guarantee his own compensation no matter what.
If he is converting all the B shares that on the surface sounds rather idiotic - (a) he can only sell 1% of outstanding per quarter (officially under Rule 144 or as a control person) (b) probably reduces his personal legal protection, easier to "pierce corporate veil" if he owns over 50%.
Seems to me he is getting desperate.Or maybe he has just sold out. Who knows at this point.
The 8k may be informative indicating why the timing for this second reverse, plus as I have thought what wacky idea CFO has come up with next.
I am curious those who projected mill would be up and running and permit without conditions received, so mill would be operating by September, what their current projections are ?
Also does anyone have news about the lawsuit against company winding its way through the courts ?
AI
