RE:RE:NEWSCompletely agree. They can try and spin that BS all they want but there is no real benefit to the disinterested folk. To commnet on their points in support of a FOR vote: - To avoid the need to issue the CVRs, which contain onerous terms and conditions. This point really means nothing. What onerous terms and conditions are they referring to and why does that really matter if the only objective here is to go to arbitration and stick to whatever is awarded if we win? How do these onerour terms and condicitons affect the disinterested shareholders directly?
- To avoid the need to encumber the assets of the Company. Again, if arbitration is the only objective and this agreement (under both option A an B) ensures that we are fully funded through arbitration, what does that matter to us?
- The Company expects that the Private Placement will fully fund the Arbitration, including the Company's general and administrative costs over the next four years. Again, they have stated that the agreement in general will accomplish this objective, whether through option A or B, so this is a moot point.
- The Private Placement will significantly strengthen the Company's balance sheet. Again, who cares if we are funded through arbitration and that is the only end game?
- The Private Placement provides additional financial backing from a sophisticated institutional investor. Another moot point, as the particpants are backing this regardless of whether or not we choose option A or B.
In my opinion, even if we see arbitration all the way through to the end, which I honestly believe we won't, I don't see us collecting an arbitration award and that being the end of it. When it gets to that point, I would bet my money on some sort of other settlement or joint venture with the government. In which case, the CVR option is much more beneficial for the rest of us.
BH