LAIG vs Current Management
Having followed this company for a while I have finally taken a position. That said, it has become extremely clear that management is deceptive and is not working in shareholders' best interest so it will be imperative to replace them immediately. LAIG appears to have a coherent plan, is offering an improved equity financing, will cut the ridiculous expenses, and will be aligned with shareholders with a significant equity stake unlike current management. Shareholders should review LAIG's proposal and letter to the CEO in detail, as well as current management's misinformation and denial with regards to the CWV's serious working capital deficiency over the past year. The destruction of shareholder value has been shocking. Management could likely have done a financing at multiples of the current price had they been even slightly competent. They have also now refused to consider a superior financing and instead insist on massive dilution at a lower price in order to retain control of CWV. I will be voting my shares against current management and would recommend others do the same.