RE:RE:RE:RE:Clear message from shareholders not named GSFCKeep in mind T33, 4 of the 5 directors elected were not holding board seats when the election concerns were taking place and the Rights Offering was pushed through.
I can only assume in the best interests of all Karnalyte shareholders, that they are also curious about all the commotion surrounding the allegations.
I certainly would be asking how Krn and its shareholders benefitted from the Rights Offering when from the outside it would appear controlling interest of the corporation was given away to GSFC for $2.4 million at a time when Krn still had $9 million cash in the bank..
Doesn't make any sense, when even the CEO at the time has plead in his affidavit that Krn did not need the funding at that time, as they had plenty to cover the Wynyard obligations, G&A, and associated costs.
So what was so important to dilute shareholder holdings by 50% in a period of 90 days, if it wasnt absolutely necessary to the corporations survival?
Would be really great to see the new board announce an independant investigation into these shareholder concerns as a step towards improved transparency and shareholder communication.