how do we know for sure that management is lying? because we know they cannot take the company private, even if they wanted to (which i am sure they don't). you need 80% of shareholders to approve a move to take the company private. this is delaware law. how can the irish account for 80% of the vote, if management has at least 30% now - probably more? is management going to vote with the irish? so management is obviously lying!
if they're lying about this, and they won't let us see the books, this may be worse than we think.
so now more than ever, shareholders need to see the books.
so now more than ever, if half the rumors about improper transactions are true, we need to retake control of the company away from peter.
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The importance of looking at the books has never been more important than it is now. IMO I am willing to bet that 50% of the monies given by thr IRISH for their purchase of illegal preferred stock went into Peter Toscano's pocket. IMO I want to know where all the money has gone. Benvengo's release which was long overdue was self-serving and much of what he states is a product of his imagination. Nothing I heard ever remomtely suggested they were looking to take over the company. They only wanted to know where their investment had gone. What is Benvengo afraid of? Why did he not address the dilution by IPWG as there was never any selling by shreholders to drive the stock down. It was the company dumping millions of shares into the market. Was that in the best interests of the shareholders. I hardly think so.
I think we stay the course and demand that the books be opened up. You give the company money to keep them afloat, not to line the pockets of Peter Toscano. I am hoping that something positive happens this week. It does not take more than 2-3 daysd to receive a wire from overseas so we should be expecting announcement that money has BEEN RECEIVED.
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