RE: NewsHey Mates,
I always chuckle when I see:
1] "management" and "directors" of penny stocks flaunting their "PEng" "MBA" and "PhD" credentials like badges of honour, that somehow entitle them to fleece a company's treasury
2] brothers, sisters mothers, fathers, and relatives somehow all part of a little management group, or Board.
When I see an individual flaunting his or her "PhD" or any other advanced degree for that matter my first reaction is to ask:
a) where did they "earn" their degree, and does the institution have any ranking on the world's academic stage?
b) in what discipline? Fine Arts? Creative WRiting?
c) why is a person who is flaunting all these "credentials" involved with a penny stock instead of a reputable, established company like Rio Tinto, BHP, Exxon, or American Barrick?
Here at the London School of Economics all academic faculty in the Finance and Economics areas earned their degrees from the world's top Business schools. However I have seen my share of graduate degrees that would not qualify an individual for more than a job at McDonalds. Enough said on that point!
With regards RDI's news release, ask yourself what this current "management" group has done for us? Take one look at the 3 year (share price) chart, the dramatic dilution of the stock in 3 years, the number of "financings", the financial statements produced these past 3 years, the magnitudes of the salaries, expenses, and incentives management has granted themselves,and the state of the current treasury.
After carrying out your dd, then you will be in a better position to decide on how to deal with their current request ie. "TheExecutive Directors urge you to support their continued stewardshipofthe Company by voting AGAINST the special resolution to removethemfrom office and by voting FOR a Fair Rights Offering, whichwillprovide balance to the Company's shareholder constituents, by usingtheGREEN form of proxy."
I don't know much about Pala, but my last 3 years experience with this sad group has convinced me that anything is better than what we have.
I and my colleagues will be voting against Bristow and his entire "team". We don't suffer incompetence well. It is time for a change, and hopefully Pala will improve shareholder value. Things could not be any worse.
Brit