Few Things1. We really are in a fight for the investment lives. If we lose, there really is no way to make money here as we'd only be entitled to 11% (correct me if I'm wrong) of the arbitration settlement. Let's say the courts agree to the 250mil the company invested, that gets us to about half out current market cap right now.
2. We should have gone to arbitration earlier. This isn't hindsight, there were a few of us on the board advocating for this for a year and a half. The company had the cash on hand, but the board wanted to take every nickel out by living large before they felt they needed to do anything. The lesson is to watch the burn rate (salaries, expenses, etc.) and call out excesses early. We could/should have been less diluted and well into the arbitration process by now.
3. The more I think about it, the angrier I get at Schiff. I thought the guy was reasonable back on the Galway Resources board. But just look at his absolute BS posts over the last few years. Look at how he put dates on things that never turned true. Look at the companies he lumped together and how nothing ever bore out. He is a complete tool and I throw some of the blame on him for us not getting mobilized earlier.