Post by
billr861 on Jun 26, 2019 5:12am
Another possibility
What if Mazen really is trying to take over the co? He's one friendly pp away, especially if it's at a low price. So how does anyone go about stopping him? How about driving the co into bankruptcy? I believe it's the debenture holders doing this, and they would be in the same bad position if Mazen takes this private as we are, so there is incentive there to strike. Especially strike now....why? Because of the AGM...a chance to kick Mazen out and put in a friendly to the shareholders face who won't allow a 'friendly to Mazen pp" to take place. Also, look around, every shareholder is in a rage...and at who....obviously Mazen & group. Typically only about 55% of the shareholders cast votes, the rest simply don't since their vote then counts as a yes to whatever the board proposes. BUT, that leaves a whopping 45% sitting on the sidelines until the last minute....the last minute....or right after the bankruptcy went down....how many are mad enough to cast a vote now? And against whom? What if the debenture holders are trying to save the company here from a takeover.....we always said we can't stop Mazen.....perhaps we have a white knight working here with us that we don't know about????? Perhaps this bankruptcy is a good thing....it might save the company for us if the above is what's happening.
And I still say that if Mazen was on the level, he would have posted that ECEC announcement on the company website.....he's trying to keep the sp down so the next 'friendly' pp pulls in lots of shares, enough to cover what they'd blown driving the price down and enough to get over the hump to 50.1% for the takeover.
Comment by
Moonlightsearch on Jun 26, 2019 8:56am
There is no AGM meeting as of yesterday. Mazen is doing his best to restructure and resurrect the company and play fair with all shareholders. He is a man of honor and integrity. Stop the BS paranoia and give him some time. Patience is the only position to take at the present time.