I have experience in Shareholders rights activismand I can tell everyone that it's an expensive and lonley uphill battle.
-DO NOT COUNT ON THE EXCHANGE OR THE COMMISSION TO DO ANYTHING. They do not care about shareholders as long as no securites regulations have been breached, and fidicuary obligations of management to act in the best interest of the company is an issue between shareholders and management and it's very expesnive challenge as we have to use our personal money and the company uses the recently replentished tresury to take on disgruntled shareholders - the exchange WILL NOT GET INVOLVED.
-THE BATTLE IS VERY EXPENSIVE and to challenge something like this will cost about half a million dollars and it involves forming a leading legal team and hiring a proxy advisory firm such as Kingsdale or Lauren Hill. We will also have to challenge the fairness opinion which at this stage should not be too difficult - who is gonna justify that Transcanna is 4-5 times more valualbe than LDS. When a legal battle ensues, the group leader alwasy gets stuck with the bill so if we are serious we all need to collectively kick into a fund we can draw on... And I an not talking about $100 here and $50 there, I am talking about $1,000 here and $2500 there and everyone has to kick in!
-IF WE TAKE THIS ON WHY STOP AT A NO VOTE - GET RID OF BRAD. Most officers would resign if a deal like this is voted agaisnt but I doubt that Brad would do this as he has shown his true colors on multiple occasions. This means not only do we propose a no-vote, we also need to propose our own slate of directors. I would keep the CFO Yana Silina and Dr Sanderson and just get rid of Brad. We need continuity and it's only Brad we want to get rid of.
Come to think about it - the fact that Brad is trying to pull this off with this ridiculoulsy low ratio might just be the best thing we can ask for... It will bring about Brad's demise one way or the other - Kind of the straw that broke the camel's back.
Also note that just becasue there is a non-solication clause, which might prohibit Brad from shopping the deal around, it does not mean that shareholders and investment bankers cannot shop it around....
Everyone should email the company, phone Phil and let them know we are not happy and that we will all be voting no as things stand now. If want shares in the severly overvalued TCAN we can buy them in the market, and at much lower prices once all of the cheap paper comes onto the market shorlty. These louses were able to get $0.005 paper and the lock-up on that paper expires shorlty. Brad has shown his true colors and has thrown us under the bus... We need to punt him out on his butt now - enough is enough.