GREY:CLRYF - Post by User
Post by
JCMatt60on Feb 18, 2016 8:49pm
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Post# 24573272
Thoughts on AGM and the Future
Thoughts on AGM and the FutureI got in some time back at $.12. Kicking myself for not bailing at $.30. Now stuck with hoping this boat will float one day. Just finished trying to digest the AGM and information circular and come up with the following. I'd be interested in feedback from some of the ZAO veterans out there:
1. We are voting on 2014 financial statements? What??? Why no financials in the package? Not even the 2014 ones. Has anyone seen any actual financials for this mess or are we still dreaming in pro-forma land? How can a corporation function for this long with no audited, actual financials?
2. It appears most of the circular is fixated on director compensation, stock options and RSU's. While I suppose the good news is that all of the options and RSU's are under water (lowest is at $.14), the fixation on compensation for a company that has produced no results for years is suspicious.
3. What is the deal with the 4 new directors? Was there a move by the shareholders behind the scenes to weight the board with enough people with no skin in the game to hold the others (e.g. King, Copeland, Love) accountable?
4. Can anyone follow the merry go round with the eventual termination of the contract with King, Copeland and Love's organizations? Someone, please explain this to me in plain language!
I wish I could see a light on the horizon but it still appears to me that this organization exists for the sole benefit of those with their snouts in the trough. Perhaps someone out there sees something I am missing?