Few ideas for the board of directorsSince we know Bruce reads these forums as he mentioned to steve or trevor when talking on the phone, here are a few quick and dirty ideas to ponder over the holiday that should stimulate investor interest and get things going in the right direction:
- Find a buyer for the Mitel business unit and have Proctor and others leave with it, appoint the gsx ceo as new mtlo ceo, and use the cash from a sale for a mainly all cash acquisition
- The co-chairmen Terry and Bruce pony up and inject $10-20m through a friendly interest rate convertible debenture that converts above or at 30 cents to minimize dilution, and uses the cash to find an acquisition and pay mainly cash to again minimize dilution. After all, they owe us shareholders big time for their lack of action over the past 18 months for things to have come to this point, right?
- Sell the company in its entirety to private equity or a larger strategic (i revisited at the gsx acquisition press release and Sampford Advisors was their exclusive m&a advisor, maybe ask them to sniff around for a possible suitor?)
- Merge with one of the private company competitors mentioned on its slides (exoprise etc.)
- Combine any of these ideas with a 10 for 1 consolidation and board reduction to 5 or 7 members
I am not even that smart of a guy with a college diploma and I can come up with a half decent way to enhance shareholder value in a short amount of time.
Merry Christmas.