Bruce, I know it isn't new, but it does indicat
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Posted On: 04/01/2019 10:23:44 PM
Bruce,
I know it isn't new, but it does indicate a basic truth. In order for us to vote down the reverse split, we'll need to get practically all the independent voters to go along. It could happen, but I've heard from some people who hold a lot of shares who say they'll go along with the company.
I don't know precisely what percentage of the company they own, but years ago it was pointed out to me that if a company agrees to a partnership where the partner takes a position representing 30% of the stock, effectively they have control of the company. If they bring something up for a vote by shareholders, it's essentially nearly impossible not to do what they want done.
Gary
I know it isn't new, but it does indicate a basic truth. In order for us to vote down the reverse split, we'll need to get practically all the independent voters to go along. It could happen, but I've heard from some people who hold a lot of shares who say they'll go along with the company.
I don't know precisely what percentage of the company they own, but years ago it was pointed out to me that if a company agrees to a partnership where the partner takes a position representing 30% of the stock, effectively they have control of the company. If they bring something up for a vote by shareholders, it's essentially nearly impossible not to do what they want done.
Gary
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