On the one hand it appears that that may be what is happening but why decimate retail shareholders when you can use a Delaware "Blank Check" preferred series stock issuance that would support the price and not decimate the retail shareholders.
The Management and Board are going about this the wrong way if they are staving off a takeover In My Opinion. In a takeover, you want the shareholders support and right now all they are doing is pissing me off with their lack of communications.
When Ladd was trying to replace the Board members the Management explained what was going on and asked for the shareholders support...
Even the former Management called it our company...
DO NOT BE FOOLED The Company believes that Laddcap’s true intention is to seize control of your Company and facilitate a quick sale of the Company in order to bolster the returns of Laddcap’s underperforming hedge fund.
Ultimate shake of retail and other parties for sure. That with information coincides with Delaware state laws that encourage m&a activities. Many court cases that are held up to give credence to the activities being practiced by current goth management. It's a matter of time at this point.