OTCQX:MRVFF - Post by User
Comment by
hsyxuon Jun 03, 2011 4:21pm
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Post# 18669840
RE: Building - Annual Report 2010...
RE: Building - Annual Report 2010...You must be one of the few people who actually read the company's reports. Congratulations!
Have a look at page 21 of the "Notice of Annual and Special Meeting of Shareholders" document.
Can you figure out why NRI would pay 18% interest p.a. on a promissory note? - If you understand why they could not get cheaper financing, please let me know.
I find the proxy form itself much too vague. It did not state the name of the auditors, as is normal, but leaves shareholders to find the name in the full document (p.6).
Management then asks shareholders to approve a share consolidation, without providing them with a consolidation ratio. "Not greater than 1 new share for 65 old shares" sounds like "trust me" - not very convincing at this point in time, if you look at the share performance graph.