Amazing! Shareholders rejected 1 but voted for 2;
Post# of 15624
(Total Views: 375)
Posted On: 04/05/2019 8:50:06 AM
Amazing! Shareholders rejected 1 but voted for 2; give them enough time and they will find away to get the votes they need to pass 1. Now there is only a remote chance they will reconsider the steps already taken and being considered (eg.,issue more shares) and back off the thin ice their standing on.
As a former securities guy I know that it is never enough to be legally correct .....................securities laws and regulations can be a slippery slope when everyone watching sees actions that are intended to benefit a few at the sacrifice of many. While their legal advisors may laugh at any suggest the Company has gone beyond their authority, there is also a nearly comical and embarrassing series of actions that is typical of "weak defendants". How would you like to explain the R/S with respect to how it was passed, shareholder notification, impact on existing shareholders, etc.
It is going to be interesting.
As a former securities guy I know that it is never enough to be legally correct .....................securities laws and regulations can be a slippery slope when everyone watching sees actions that are intended to benefit a few at the sacrifice of many. While their legal advisors may laugh at any suggest the Company has gone beyond their authority, there is also a nearly comical and embarrassing series of actions that is typical of "weak defendants". How would you like to explain the R/S with respect to how it was passed, shareholder notification, impact on existing shareholders, etc.
It is going to be interesting.
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