0.13
While I think management has been working hard, this 3rd party news release and call for a shareholder meeting is prudent. The fact is since the BoD shut down talks, with no public mention of the potential offers, there has been no signficant effort to improve shareholder value, almost a year later! There has been no share buyback, management and the board hold a ridiculously low number of shares, no major acquisition, and while Stella is progressing, it is slightly off its original timeline as well. If it takes someone with 7% of shares to make some noise, all the better. I still believe pre-Stella is the perfect time to sell this company and it should be discussed. I dont see why we cant do both, actively progress with Stella and let it be known we would consider reasonable offers (3.25-3.5 is very reasonable given the early stage of Stella and Athena hiccups, one could argue 3.75 is the right price, and 4.25-4.5 is what the company is worth if Stella is a homerun). I still contend we are very vunerable for a hostile low ball bid (2.5-2.75), and I would prefer the BoD sell at a medium price (3.50 please) and make the vast majority of shareholders money. This group can add my 0.13% of outstanding shares to the cause.