Mitec ConsolidationThe strategy to consolidate and generate as much liquidity to shareholders was approved by Mitec's shareholders at a meeting that took place in June, 2016. I understand that the insiders of Mitec did not even vote on the proposal, letting the other shareholders determine Mitec's destiny and they voted to approve the strategy.
While this was not the outcome anyone wanted, the company had run its course in the public markets environment and had no future other than to deplete its limited cash continuing to be public, It had not been operating any business since 2012.
If any shareholder/investor had wanted to approach management and offer a better outcome than what took place it would have been disclosed to shareholders. That did not happen either.