RE:RE:Finally!I must apologize to this board for what was an incorrect post:
I stated that the only proposal that was passed was the first; namely, reducing the conversion price to 5 cents from the previously suggested 7.5 cents. It seems this was also turned down by debenture holders although they did approve changing the forced conversion price from 15 cents to 10 cents assuming that the conversion price was reduced to 5 cents .
Doesn't make much sense , but that was apparently how the vote went and I obviously miss heard the results at the meeting.
However, I do not understand how the company can claim that if more Debenture Holders actually cared to vote, they would have carried the day to the benefit of shareholders. I suggest the total contrary is true, if more Debenture holders voted, and thought things through, they most likely would have voted against the company's proposals as they are Not to the benefit of Debenture Holders.
Clearly, the Board is acting, as it should, on behalf of shareholders NOT the Debenture Holders, who must look out for themselves....
and they appear to be doing so according to the results of the vote.
Let's see what they come up with next, but time is of the essence.