spoke to both sides today. . . Obviously couldnt extract any information from this board so I went direct to the heads of both companies.
The group out of california seem pretty confident that they will take control of the company. Keep managemet team and bring in a new board. They are simply saying they will take the highest offer, what ever that is. They claim that management isnt fulfilling its obligations to shareholders. Why didnt they find a buyer yet?
WND believes that the current group will do the best for the company. Its a pure diaster and panic and desperation on both sides of the fence. This one is going to be fierce.
If you buy now its a major gamble, but seem to think that they can get over 3bucks.
The only thing I found off was that both managment and this investment management group both own only 4-5million. Usually management holds 10% + of the stock and for an investment company to get the way they are they should in theory own 15-40% of the stock.
Next week we shall know what happens.
Both sides didnt seem confident they knew who brookfield was voting for. Either way this is a gamble for anyone to buy in at these levels to the guys that went long at much lower prices lets sit back and enjoy the show!
ReduceCo2