CEO, Manu Kumaran, Ousted.
A post from a twitter friend,
@BackPackOfStock, I respect greatly:
The facts....nothing more nothing less
1. Manu diluted this stock heavily in hopes of securing enough cash to secure financing via local bank.
2. Manu was removed from employment from Medient Studios
3. Koppleman assumes control and appoints Shapiro as new CEO
4. Koppleman and Shapiro cease senseless dilution via their statement and dilution slows dramatically.
5. Residual notes trickle into the market as previous CEO issued shares are converted.
6. TA was not gagged after ouster to provide transparency to shareholders.
7. Koppleman and Shapiro have not defaulted on any filings and promise to remain current and follow any and all SEC rules.
8. Yes a reverse split is planned but details of the ratio or timing of the split have not been divulged.
9. Stock valuation remains a topic of discussion but not one person whether pro or con can provide justification of the low PPS given revenues. ( feel free to jump in here and prove yourselves bashers...use proven valuation formulas please )
10. IDA meeting will be on Thursday the 19th to discuss the content of the Shapiro & John Henry discussion and future plans.
11. Koppleman has never failed shareholders in his leadership...and has provided shareholder value in his past tenure at Martha Stewart and Steve Madden while they were "detained"
12. Unless Yellow fails, the Studioplex gets cancelled, Koppleman quits the board and relinquishes power to Shapiro...this stock is a solid undervalued oversold stock.