True, and it looks like you were right. Here is the email I sent and the reply. Notice he didn't address my first concern.
Mr. Ulsteen:
I must say that I am somewhat confused by your last email. I would think that your investors would be interested in progress toward production, which if favorable would provide the volume and liquidity that they are looking for. I admit that I am only an investor myself, I'm sure a rather small investor compared with those you have been talking too. But it seems to me that results would be more important that PR and promotions. That being said, perhaps all of your hard work is working. I have noticed a modest increase in volume and a fairly good increase in share price these past two days.
Could you please provide more detail on the tender offer and the value of the shares that are to be received. I want to thank you for taking the time to keep me informed.
Dear Jerry,
The value so far is about 5.5 cent per share. however I am in the process of validating this. There is a fair amount of due diligence to do before we can conclude and recommend the offer to our shareholders.
I think personally I would like to push for a somewhat higher price, and sometimes when an offer is made other parties will come to the table as well. It is early in the process and we will see how it progresses.
To conclude, the price seems fair, I am however not ready to accept nor recommend at this stage, not until I know more. I further think that I would accept at a somewhat higher price. In the end the shareholders will vote and decide.
Erik Ulsteen Chairman & CEO
Kabe Exploration, Inc
3525 Del Mar Heights Road Suite 357
San Diego, CA 92130
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