Today I have in custody my three ballots. I am all set to vote.
These are my observations. The ballot is disrespectful of the long term shareholder. Long term shareholders are "in the MIDST" of evaluating the competency of management and the Board of Directors.
Therefore, I am voting as I would when a Company keeps me "in the MIST"
1) The Company does not permit any nomination of candidates from the common shareholders. The trend under contemporary Corporate Governance is for the Board of Directors to be accountable to shareholders via shareholders input. This is not true with Liquidmetal. None of the proposed members of the board of directors represent my interests as a shareholder. They have already endorsed a dilution from the 43 million shares to the present 240 million. They have failed to accomplish the mission of profitability more than 7 years after commencement of shipping REAL PRODUCTS on REAL ORDERS in 2006. No orders outside of molds and prototypes have been shipped under 2 years under STEIPP's leadership. Now the same board who have watched over the Company for at least two years wish to authorize 100 million more shares.
..........THEREFORE, I vote AGAINST the re-election of ALL DIRECTORS
2) The Company has never discussed the Buy-back of existing shares to raise the value of the Company shares in the last ten years. The Board of Directors, rather than accomplish profitability, has chosen to continuously dilute long term shareholders and simultaneously grant themselves and Insiders preferred shares and stock options which further dilute the outside shareholder. In spite of the claims of insufficiency of authorized shares, I maintain there is an insufficiency of MANAGEMENT and STEWARDSHIP of shareholder funds.
Should the Company need additional shares, they may hold a special election AFTER achieving 4 quarters of sustained profitability. Prior to that, the insiders of SOONG, CHITAYAT, SALAS, all of the KANGS, Mahamedi, et alia who gave themselves free awarded shares may return these shares to the Company Treasury. These shares which were STOLEN from the common shareholder. This is how they may have sufficient shares to conduct business, to conduct COMPANY business and none of their personal business.
..........THEREFORE, I vote AGAINST an ammendment to increase the number of authorized shares from 300 to 400 million.
3) The proposed Equity Incentive Plan is not in the shareholders interest. There is no MERIT-BASED incentive; there are no benchmarks prescribed for the executives to accomplish prior to awards. Regardless of the competency of the executives the same executives are entitled to awards simply because they exist.
..........THEREFORE, I vote AGAINST the 2012 Equity Incentive Program.......simply because it is an INCENTIVE for DOING NOTHING and with NO ACCOUNTABILITY.
4) The present auditor has attempted to clean up the questionable accounting of the past.
..........THEREFORE, I vote FOR the APPOINTMENT of the AUDITOR
Finally, the Company has many issues wrong within its Corporate Governance, particularly having no accountability to shareholders.
The Company did not provide notice to the shareholders that they have a right to raise issues to be discussed at the shareholders meeting, but that they have to be submitted so many days prior to shareholder. STEALTH MANAGEMENT is CORRUPT MANAGEMENT.
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