RE: RE: RE: RE: RE: RE: RE: Repost...PP Richard,
Have I picked up the phone and talked with management? I have spoken with management many times via phone calls, letters, emails, and in person. They don't get it.
You suggest I get on the Board. I would love to be on the Board, and am more than competent to serve. Boards are to act in shareholders interests, not that of friends and family. I have never offered to sell a company for less than one times earnings. That is a disqualifier IMO. What still confounds me is that 70% of shareholders supported the proposal to their own detriment.
Have I complained to the Security Commission? I have sent a letter to both the commission and the TSX.
You want to give management the benefit of the doubt. The problem is that they have not made a reasonable case for the PP. It was originally lack of time in order to close the deal (and secondarily cost). One, they could have passed on the deal. Two, they ended up choosing to close the deal with cash on hand after telling shareholders that the seller was requiring the capital raise. Either they lied or the seller changed his mind (but the PR said it was MMYs decision). We may never know the truth. As a shareholder I would prefer the additional cost over the massive dilution. At a certain point they should have considered selling the whole company, if that was in shareholders interests. It would bring a lot more than
.45 per share.
Why does it seem okay to you to sell what you own at a below market price to friends and family? I don't like management to sell what I am a partial owner of to their friends at a dirt cheap valuation. That is a violation of the fiduciary duty to me.
I am sorry you get tired of all the neagative posting. If it makes you feel better I get tired of all the "management must know what they are doing" posts and sharehodlers who approve of things that are stupid.
We disagree. I know I won't change my opinion since I am convinced that I am looking at it rationally. I am a professional. Hopefully the discussion/debate will benefit readers.