Post by
Bean_and_Dunn on Jun 23, 2014 10:55pm
Voting closes at 2 p.m. June 24th
www.voteproxyonline.com
Last year the votes were close. A couple of resolutions did not pass. It is my belief that at least one director did not receive a majority of positive votes. The company did not publish the voting total so it remains as just my guess.
The company has not yet retracted their statement in regards to the weighted average price of the share options outstanding i.e. at year end 2013 on page 22 note 13 they claimed that there were 1,100,000 options outstanding with a weighted average price of $0.53.
Their most recent unaudited first quarter 2014 statements claim that there are 1,100,000 options outstanding at a weighted average price of $0.25. Well to me that is one big difference. How can I have confidence in management and directors when they do not retract such an obvious error?
As previously mentioned the treatment of options by the previous board and the present one is radically different. In my opinion if they are going to change things, they should be forthright enough to make a note of how they are changing them and compare how the present method differs from the previous one. It does make a real difference in perceived earnings per share.
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