Takeover Bid = Sept 6th OR AGM = Oct-Sept - Vote Jokers Out As most that follow the stock know, there is a skunk takeover bid for $.09 on the table. The takeup date is Sept 6th, and I am hoping that they raise their offer.
It woudl be really nice if the special comittee actually looked for a competing offer instead of trying to hang onto their lifestyle jobs, but self interest is what it is. And even it it is not a directors job, these lightly invested individuals want the salary and not whats best for equity holders.
If the takeup offer is unsuccessful, it is time to look at replacing the directors of this board. The AGM takes place between mid Sept and Mid Oct. FEX (takeover) owns about 20% of the shares; they will surely want the front office jokers out of the picture. So will I.
We iwll see how this takeover plays out of the next month, but perhaps we can use this comment string to voice our displeaseure and nominate some write in votes if thats what this debacle comes to.
Commander management has to go; and this is too small a company to be public. They shoudl just be distributing the $5m in cash.