Hearsay as it is, this is what I learned prior to the SHM.
RM and management spoke of his joining the board. Management was agreeable with certain conditions. One of which is a close associate of RM's who was a formal consultant for prior managements' in fund raising activities could not be involved in any way with the company. He refused and that ended the discussions.
I did speak with RM at the SHM but we did not discuss this topic as I understood it to be closed.
We were forewarned on this board that a serious proxy battle might be expected at the SHM led by RM and others, including that no-show consultant. It never happened. ( There was heavy security at that SHM).
Despite all that he was most gracious at the SHM feigned or not.
We can speculate or guess as to what RM has or hasn't done with his shares. Here is what we don't know...the reliability of the reported holdings for the 13D filing are probably accurate. The S 1 is not at all clear if it is.
Therefore I am not in the camp of those that think he is selling or has with any degree of certainty.
For certain, he knows no more than we do of what or what is not going on in the company...maybe even less. His 7% holdings do not give him access to the daily doings at the Cape.
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