I will also tell you for a fact Matt is aware of some of the false and misleading statements being made about CBAI by certain people, and they should be concerned for sure. I also see this most likely ending in CBAI either buying CCEL or possibly a merger that leaves Matt as the CEO. I doubt CCEL's shareholders are very happy with MW and the rest of her mgmt team. She's history.
Mercedes Walton may not be the primary decision maker here. Look at the list of Beneficial Owners and the percentages they own. This may also explain why the board rejected the recent purchase order of $1.75 along with the fact most expected the stock to rise in the future:
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
The following table sets forth certain information regarding beneficial ownership of our common stock as of July 6, 2010 by (i) each person who is known by the Company to own beneficially more than 5% of the outstanding shares of our common stock, (ii) each director and director nominee of the Company, (iii) each executive officer of the Company, and (iv) all current directors and executive officers of the Company as a group. Except as otherwise indicated below, each of the stockholders named in the table has sole voting and investment power with respect to their shares of common stock, except to the extent authority is shared by spouses under applicable law.
* Less than 1%.
(1) Pursuant to applicable SEC rules, the percentage of voting stock for each stockholder is calculated by dividing (i) the number of shares deemed to be beneficially held by such stockholders as July 6, 2010 by (ii) the sum of (a) 11,752,574, which is the number of shares of common stock outstanding as July 6, 2010 plus (b) the number of shares issuable upon exercise of options (which are shares that are not voting until exercised) held by such stockholder which were exercisable as of July 6, 2010 or will become exercisable within 60 days. Unless otherwise indicated, the address of each person in the table is 700 Brooker Creek Boulevard, Suite 1800, Oldsmar, Florida 34677.
(2) Includes 412,764 shares subject to stock options.
(3) Includes 30,000 shares subject to stock options.
(4) Includes 30,000 shares subject to stock options.
(5) A group consisting of Mr. Choi and UAD 7/21/01 FBO Choi Family Living Trust filed a Schedule 13D/A on April 29, 2009, reporting the following beneficial ownership: (i) 2,136,929 shares of common stock held directly by Mr. Choi, as to which he has the sole power to vote and dispose or direct the disposition; and (ii) 233,472 shares of common stock held by UAD 7/21/01 FBO Choi Family Living Trust, as to which Mr. Choi has the sole power to vote and dispose or direct the disposition. Beneficial ownership information is supplied per the Schedule 13D/A. The address for Mr. Choi, as set forth in the Schedule 13D/A filed
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