RE: Captain + MeetingYes, Peter Piper and Yossi mainly made comments and took Norbert and Board to task.
Norbert though somewhat uncomfortable fended off that they (him and Board who he thanked)
had done as good as job as possible AND on the offer they had extensive discussions and work to
get the 30 cent offer.
I started the questioning with how GMP evaluated and what was the real value of the company -- patents,
business potential since GMP's info in circular was all boilerplate with one sentence that it was fair.
Fair at 30 cents? The point that people (Federal & a third party) in the business evidently thought otherwise
...or why would they increase by over 50% their original offer. The Chairman (Mel) advised that they spent lots
of time on the evaluation with GMP but he could not or would not relate any facts and took the position that the
stock was at 15 cents so an offer at 30 cents was very good. So no one was any wiser and I believe they could
have had even a 2 or 3 page exhibit by GMP explaining how they arrived at their evaluation.
Norbert said that the .46 was tremendous since it was giving 4 times _________.
He also reponded to a question Peter Piper gave me to ask that none of officers, directors or management
have a contract with Federal, subsidy or spin-off.
In my view the meeting was civilised and though they took a little heat, it was of no concern to them
since they knew the vote was in the bag from the get go ---- so questioning annoyed the Gowlings legal
beagle who wanted to get it over with quickly.
Hope that gives some insight.
Dave