Decided to keep my shares (prior to speaking with Jason N.
Decided to keep my shares (prior to speaking with Jason N. today). Spoke to Jason Novak today (after markets closed) and brought up the issue that we have been discussing on this board concerning Lonnie. Jason said he did not know whether Lonnie was selling or not but that Sheldon Romaine/Peter Meier got together with some consultants on this whole thing and they want to be responsible and right now Reverse Split is just NOT an option). HIMR is in talks with Lonnie about the preferred share restructuring and retirement of shares as was previously mentioned. Jason said that they will not eliminate current OS/AS shares BUT what they are still trying to do is get Lonnie to restructure or retire his shares. I brought up the issue of the shares and how NorthCal would perceive that (negatively)especially after NorthCal wanted HIMR to reduce the OS/AS as they were doing in 2012. Jason said that while that is an important topic (OS and AS shares), it probably doesn' t play as big a factor as it did earlier this year and back in 2012. The reason being is (as HIMR has already informed us), they have received a concession so they will be viewed differently by NorthCal (in a positive light) in that the concession is substantial.
Jason Novak referred to the Preferred shares as a legacy issue. Right now it is up to the preferred shareholders to build and pay for the TigerLynk. If there are any issues out there with the building of the TigerLynk (on the part of the preferred shareholders, HIMR has the option to build it themselves).
Remember there is probably small amounts of revenue that will surface before the year is out as HIMR is starting with divers while the TigerLynk is being built.
Hope I worded this to cover some of the issues we have been talking about.
Sky,
Hollund Industrial Marine Inc. (HIMR) Stock Research Links
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