The Proxy Vote and why I'm Voting NO
HI Oldherder,
Although they may have a preliminary count on the proxy vote(though I doubt it), they couldn't have the final results since shareholders are able to vote till the day before the meeting.
I think I already expressed my reservations about these proposals (they are asking for too much power, proposing too much dilution, and, in terms of their handling of debt and operations so far, haven't shown much respect, despite statements to the contrary, for the interests of their shareholders). For this reason I voted no with a large block of shares, although with over 130 million outstanding, I don't know that it will make that much difference.
Nevertheless, I advise all shareholders who want to retain what value exists to vote no as well. If enough people do, they may be forced to produce some more reasonable and shareholder friendly proposals.
Best regards to all!
CC
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