Thanks for sharing. Naturally the CEO is going to try and take a hardline stance on why they need what they are asking for. Quite frankly they asked for the moon and shareholders told them rightfully to pound sand. Taking the R/S off the table is a great start. Now if they want to be serious about getting shareholders on board they need to be reasonable in their requests. Lay out to all shareholders why they need the AS increase to continue growth and then lower their demands. Maybe 500 mil AS increase.
I don't disagree that the company will need to increase the authorized shares. An increase in AS needs to be measured against performance otherwise it comes across to shareholders as a blank check. Shareholders take dilution very seriously. If you look at the last 12 months activities of the company shareholders have lost almost all of their capital investment. If the CEO wants more dilution he will have to show shareholders that his and the BOD actions generate revenues from assets. Get that cash flow stabilized first then move on to further acquisitions. No more blank checks. Again, Show shareholders the company can grow by stabilizing cash flow without further dilution. Then ask for a smaller quantity AS increase. That is the only way shareholders will support the dilution.
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