GREY:VFGGF - Post by User
Comment by
sellthefarmon May 22, 2014 1:59pm
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Post# 22588367
RE:Thoughts On Your Voting Packet You Were Mailed
RE:Thoughts On Your Voting Packet You Were MailedThat is a clueless post! The proxy material is asking us to vote on board election, auditors, etc because it is mandatory business practise and required by law. Whether they are trading at $0.10 or going broke doesn't matter. They still need a board, auditor, etc and are required to have an AGM within a set amount of time following year end. Even if it is to just sell the company, they still need a board and management team to do so. And if you look at exec comp they haven't been draining the company of cash. Many of them put a lot of cash in this thing last year and are losing just like the rest of us. The fact that they are asking for approval of their long-term incentive plan doesn't matter either. In order to retain a management team there has to be some incentive to work and for PRY this comes with their option plan. They surrendered all the outstanding options last year and won't make any money on new options unless they turn this around.