RE:Cation News Release
Points raised by Cation are valid. Shareholder value destruction is 90% . Board of directors are
1. Still not buying shares of their own company. This shows their faith, support and dedication to company. Last release all board of directors had 630,000 shares out of 540 million shares.
2. Still spending money on capital expenditure
3. Blaiming finanancial institutions selling their shares but not looking at themselves.
4. Knowing share price is dropping below $5 and institutions are required to sell, they did not initiate simple stock consolidation (say 3 or 4 to 1) to keep price above $5
5. Main issue is absolutely no communication with shareholders about what is going on.News release is only when their position is under threat.
6. There is no plan to announce share buyback despite 90% off
7. Definition of insanity fits their actions. Keep doing same thing over and over, expect different results.
8. Selling assets at fire sale price to fulfill deliverables is like making 1 million buy loosing 2 million dollars.
9. They are talking to institutions knowing they are quitting on them and they need their support.