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Cline Mining Corporation T.CMK



TSX:CMK - Post by User

Post by bond46on Oct 10, 2013 11:22am
317 Views
Post# 21806812

CMK shareholders have no power

CMK shareholders have no power
Hello Steeler, good to hear from u again. Noone can set the price of this stock because the shareholders have lost all the bargaining power in the last financing with Marret. Normally, when a company goes up for sale, there is approval from the shareholders, but not in this case. Say for instance that the company is worth at least book value of $1. The Board proposes a sale and some shereholders do not give the ok for the sale. The company is not sold. But in this case, Marret can overule the rest of the shareholders because in the recap agreement they have the right to convert all bonds to equity at o.005. If you multiply that by 200million shares the current shareholders have is equal to 2billion shares and thus Marret becomes a major shareholder and can sell the company at a price that would secure its capital and interest and the hell with everyone else. So don't believe what Haywood said at the AGM that Marret all they want is their money plus interest. They will get whatever they can and to hell with everybody else. In short, this investment has been lost and the sooner the current shareholders realize it the better. That is why the current Board do not own any shares and also the stock, even over the counter, is not going anywhere. But if there is a glimmer of hope is the involvement of the old guard behind the scenes who might own some stock, Stone and al, who might not want to have their stock turned into trash and make a deal with Marret not to dilute etc, but it seems unlikely That is all I could say at this point and keep hope alive.
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