RE: RE: Open to Negotiations The actions of this board disgusts me.
The self-serving insistence of the BOARD in always pushing forward their agenda to sell the assets of the company at distressed prices must be stopped. If it was known to the BOARD that the company was un-able to financing its future activities, then before the decision was made to liquidate the assets the shareholders should have had a chance to decide their fate.
This awful group of people who have been making terrible decisions regarding the future of FIU should be held to account.
The question of having not enough operating capital should not have forced this company into distressed sales. If a better reason to seek bankrutcy protection exist, I'm sure this reason is almost as important. Decisions by the board have not allowed the company to face this dilemma before it ran out of cash. To run out of operating capital appears to be a deliberate attempt to put the company in crisis, and I intrepret it as purposeful and deliberate act of destruction intended to cause a crisis out of which other groups can immensely benefit. For the simple yet destructive act of running the company out of money before answering the question as to the companies future, the Board has seriously neglected it's duties from which it can never again be trusted.
Since it board decided that it must sell assets, and since then it has done everything possible to make this happen, further destroying shareholder value.
How it is possible that a buyer could not be found high or low last year and at the beginning of the year, but now appear very interested and is making substantial progress to buy the entire company. Imagine what other options may have been available to the company if it had had discussions with this group previous to running out of money.
What vendetta does the board have against this group to not invite them to make a proposal to allow FIU to succeed? There must be a hidden reason.
To vote "Yes" to #01 and #02 is to vote to support the confiscation of valuable assets from FIU shareholders caused by the neglect and breach of duties of the board of directors. To vote "No" to #01 and #02 is to put some control of the situation into the hands of the shareholders, to release FIU from the constraints that the board has put on it, and if there are other organizations interested in these assets (which is obviously true), to enable those organization to make proposals to acquire the assets.