Gotinearly, Privatization of SEVU....
I am not an expert on the subject but here are my thoughts:
In my Opinion, McBride is hounded by SEC and will never be allowed to head a public corporation again... In addition, he resents having to report on a Quarterly basis to SEC, abide by SEC's Rules (he's happily violated Rule 17(b); 13D and Form 3, 4 Filings; 8K filings, PP regulations, etc...), publishing honest and truthful PR's and most of all, he believes he has a God given right to keep his hand in the SEVU's Till for his personal use... It also assumes that SEVU is about to do very well and that strong Cash Flow will occur, with little additional financing needs...
McBride's solution is Privatization and that's why he has cooked up the PP Scheme, to allow him and his Group of shady Cronies to take control of a substantial majority of SEVU shares, between 65% and 75% for peanuts, using inside information, as to the future of Secureview... That's why nobody else was allowed to buy in the PP and I'd say it's a "Do or Die" bet for him, now...
All he needs do, when he controls as much as he can, certainly in excess of 50%, is to get the Board to vote to become Private, a formality for him... An offer to buy the stock in the hands of public investors at a certain price - MORE PEANUTS - is then made... Most investors succomb to the pidly offer, because they know that they'll have no liquidity in a Private company setup, absolutely no say in the running of the company and NO checks and Balances from SEC... The stock gets delisted, the shareholders are Squeezed and it's called a Management BUY-OUT, a Scheme in which Kohlberg and Kravis made billions....
In other words, if you thought you were screwed under a Public SEVU, you'd be CRUCIFIED, if you were still an investor when it becomes Private... However, this Scheme has been discovered in time to do something about it...
Just my Personal Opinion, F. Goelo + + +
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