Please read and then comment as WW clearly stated 1 class of stock common shares with everyone aligned equal. Surely you remember this when the R/S was 1st brought up by management. Then we find out their was preferred stock (my revelation with lots of trash talk aimed at me)that can have special rights that can give them more than 1:1 to common shareholders. We still have no idea how these preferred can/will affect the share structure as management can do as they please. Sorry but this is not being running as a public company period. Yes the reduction is great but to let management do as they please is akin to letting a 2 year old do as they please with no correction. For all we know these shares could be dived up as performance shares for management worth 500:1 I am not going away and certainly it is time for WW to start talking about clarification and intention.
Upon stockholder approval, the Chief Executive Officer will determine an effective date, which must be within 12 months of the meeting date, at such time the number of authorized common shares will be 100,000,000 and the authorized preferred shares will be 10,000,000.
If they do a 5/1 we are looking at another 50 mil addition to the A/S and naturally another R/S which they also have a right to do. Not saying it will happen but certainly a possibility. Don't take me wrong love the stock but we sure as hell need some clarification sooner than later and to think we really will get institutional investors is totally moronic when the SS is vague to say the least. Believe 100 Mil is not the scary part but the fact management has the ability to do as they please should scare the hell out of any one.
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