These juniors ...especially ones that are in financial trouble or have made discoveries that have good value but have no way of way of pursuing them by cdrilling enough wells receive offers all the time. They are usually lowball offers by entities taking a shot at stealing the company. Management trashes them. Shareholders never hear about them.
ATK opened multiple offers a few Fridays ago. Most..if not all of them were trashed. They have no obligation to send Proxys out on every offer. If there is an offer that is considered acceptable by management, then that begins......not ends....negotiations on the specifics of the deal. Once their is an agreement in principal, then shareholders hear about it and are able to vote yay or nay. If companies were mandated to let shareholders vote every time someone swoops down to lowball an offer and steal a company, we would spend half our lives reading prospectuses.
It's not the offer, it's the agreement that management has entered into that shareholders are entitled to vote on.
There are no delays here. Just process. There are no guarantees that any viable offer will conclude in an agreement for us to vote on. We must wait till this thing plays out. I have been through this before on more than one occasion. I don't like waiting and I don't like to see an entire year go by without a single well being drilled on an ATK property. But here we are....frustrated and impatient. If we continue to hold our shares then we must sit and wait till things play out. But, make no mistake. It's not the offers we will pick and choose. It's one agreement in principal ....if that....that we will get news about. And maybe we don't even get that.