RE: Simpler Reasoning... This is a very well thought out post and it manages to capture nearly everything I have been thinking concerning the unfortunate situation your mine construction is experiencing.
I have been looking for an entry point but have now pretty much given up. MK has manipulated the situation masterfully. This upcoming vote is your last chance to retain any value whatsoever in your common shares.
The only thing I have not seen mentioned is that at a stock price of
.20 the number of shares which would need to be issued is approximately 1.25 Billion to cover the required $250M shortfall. I keep seeing numbers like 100% dilution batted around, but if MK puts up the shortfall by buying shares in a company allowed to issue unlimited preferred shares, why would they offer to pay 5 times their current value when they can legally do otherwise due to shareholder agreement.
My opinion as an outsider without personal stake in the company is that you either vote no to everything and try to wrest back control of your company, or come to the sad realization that you are voluntarily giving away the rest of your hard earned money that you invested in this disaster. A huge injustice is about to occur here and the culprits are using the law, and shareholder fear/hope, to make it happen and cover their tracks.
Best wishes to all of you. I hope you either vote against this corruption or sell of your shares to save what little you have left.