Even though it does frustrate me to no end, the lack of promotion, heavy marketing, internet presence, poor IR response, or how the business is run is out of the shareholder's control. "Now they tell you we can fix it all with a reverse split." I don't find this statement to be accurate.
What is in our control is:
1. Our right to vote.
2. Our right to no longer be a shareholder.
Both of these are an option to me in the coming month.
We each must decide if Ferris is telling us the truth about whether the RS will help with retaining customers. I doubt he would outright lie to everyone on a recorded CC, opening the company up to serious litigation. All I care about currently, regarding the RS, is whether we truely lost $4M because of the low stock price.
The rest of the proposals can fail, as I also would like to keep the voting power in the hands of the shareholders.
From a business standpoint, I think its a good sign for a business wanting to go private. Yes, it would probably mean a much lower value for current shareholders, but I cannot cloud my emotions by thinking Virtra is the same high risk, high reward investment it was many years ago.
I have not yet decided what my future investment will be in Virtra. Time will tell.
PS: Info on going private:
"A public company may choose to go private for a number of reasons. An acquisition can create significant financial gain for shareholders and CEOs, while the reduced regulatory and reporting requirements private companies face can free up time and money to focus on long-term goals. Because there are advantages and disadvantages to going private as well as short- and long-term issues to consider, companies must carefully weigh their options before making a decision.
Motivations for Going Private
Investment banks, financial intermediaries and senior management build relationships with private equity in an effort to explore partnership and transaction opportunities. As acquirers typically pay at least a 20-40% premium over the current stock price, they can entice CEOs and other managers of public companies - who are often heavily compensated when their company's stock appreciates in value - to go private. In addition, shareholders, especially those who have voting rights, often pressure the board of directors and senior management to complete a pending deal in order increase the value of their equity holdings. Many stockholders of public companies are also short-term institutional and retail investors, and realizing premiums from a take-private transaction is a low-risk way of securing returns."
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