GREY:GDMRF - Post by User
Comment by
louelon Jun 25, 2019 12:00pm
151 Views
Post# 29860740
RE:Anderson
RE:AndersonNot true when it comes to Venture stocks that are financially in trouble in the first place. To the point Law suits were filed for debt collection. There was a possible bankruptcy pending.
Anderson is the Golden Goose who is making an attempt to salvage restructure and place the company in production. To do so under his leadership it is his and the boards decision to strip away assets , roll back share count, Change the focus of the company or sell it plus anything else they deem necessary, in order to accomplish the end goal. Which is deemed to be in the interests of share holders.
It can be brought to majority vote if there is significant objection. However I believe you will find the amount of shares held by insiders, executives among other non insider but connected members, be it thru family or business is plenty enough to support their decisions. Anderson himself holds 19+% George Sookerchoff now with GGX also holds a significant package.
When it comes to voting it is known only 10 to 20% of retail share holders cast a ballot so there is minimal chance a decision can be denied. If it is they can back off allowing the company to again collapse or do another 3 for 1 roll back. With only 5 million shares it would all but eliminate most retail shareholders leaving no objection. They do not need a share holder vote if the roll back is less than 10 for1.
Probably best to let the management make the decisions as they see fit. Nothing stops a person from selling their position if they dislike what the company does.
For me I see it significantly derisked at these lower prices considering the recent actions taken. Picked up some at 4 1/2 cents and will accumulate a bit more should it drop further. The complete Mill facility cost on it's own is higher than Market Cap. Especially in the location it is. As I have said before it would take years and cost more to build another. Than to purchase Greenwood.