Here is where I am going with GreenOilMan. Never thought I would say that.
Davo, I think we can assume that the only reason an 8% shareholder would see full board control is because they have a plan. Probably not the plan you and I would like, but it is a plan.
No one takes over a company and continues the current plan without "butt loads of money" and no one accepts a take over expecting things to remain in place. (like management) If you want that you need to come with money.
These guys come with a "maybe", the current board have shown time and time again that they are willing to do whatever it takes (including diluting themselves) to get money. That says something about tenacity. It also says that the situation has often been more dire than they were willing to let on. So they have done whatever was possible. Good thing when failure means end game.
Now we have a new board proposed, and they are going to speed up the day-to-day operations. That means they are going to find the holes in the current boards plan and heads are going to roll. Whose head, we know the Alaskan team thinks that they are doing great things. Yet nothing is getting done. Hume, I wonder who roles next.
This leaves us with a real mystery. Is it the board that runs the day-to-day or is it the "Alaskan team" that isn't performing and fear of a shakeup is causing the board to keep them in place.
I did see a piece from one of the Hotcopper favorites on this. Alaskaman (whoever that is) went after them.
My point is I think GreenOilMan is right, delays, delays, delays.
Or current management is maintained and dead weight is cut off. (after they raise money)
Or the whole thing is screwed and then nothing will help.
