Charles Taylor Group Plc V.MQL

Brutal. . .

[jayd54]

This incredibly expensive debt financing is further evidence that management and Board change at Marquee is overdue. Mr. Thompson has demonstrated that he cannot build value at all, indeed, quite the contrary, any value is eroded quickly or, in the case of this wrong-minded financing, disappears into the etherworld! And this Board, along with Thompson, has either misled (at best) or outright lied (at worst) to shareholders and the public marketplace. In a prior release and in several publications it was expressed that the Board and management "believes it is prudent to limit capital spending to free corporate cash flow". That way, there is not leakage of $3 million a year right off the top to the carpetbaggers who lent them the $30 million. AND they get warrants to dilute we shareholders even further if there is (operative word is 'if'!) any modicum of success! With cash flow in the first quarter being less than $250K, where the hell is that $3 million coming from and what cash flow is left to do anything with after you've paid the usary rate of interest? The mere fact that they may have sought and concluded an arrangement of this type and form smacks of the absolute desperation of management and Board. Its overdue that they be held accountable for these actions. Change is overdue! Cannot express this enough: change is overdue! I will once again withhold voting for any of these clowns on the Board.