I agree, except 18 months ago there was nobody run
Post# of 15624
(Total Views: 851)
Posted On: 07/25/2020 12:24:50 AM
I agree, except 18 months ago there was nobody running the show. It's quite obvious now that Bignitz had only one thing in mind and that was how to spend the bounty he had acquired and how to stock his ATM machine.
Not sure if you read any of the posts that MjMilo and I posted on the other board. After the R/S was announced and after the latest proxy I fired off a couple of emails to Ziv expressing my views why the R/S was a bad idea. I also wanted to know if any of them understood the implications of the conversion formula, and the impact it will continue to have regardless as to whether they go the R/S route or increasing the AS route. I pointed out that the minus $.01 in the formula was problematic. Essentially what it means is that as long as the share price remains below $.0136 cents, they will be obliged to issue DGF an infinite number of shares and limited only by the 4.99% rule.
He suggested we talk so we arranged a conference call and spoke for 1.5 hours. He made it very clear from the beginning that he already told DGF that he was not prepared to work for them and continue to issue them shares on demand. The reality is that they need money and nobody will go near the company as long as DGF is in the picture. Ziv has lots of ideas and he's ready to go where he left off. As you may know it was his idea to start selling the psoriasis cream and generate revenue back in 2017.
Looking at the picture as a shareholder I think the R/S is a horrible idea. The only way to mitigate the DGF conversion damage, is to perhaps negotiate the conversion formula with them, buy some time, put out a business plan that is realistic and makes sense to shareholders, and hopefully watch the SP rise accordingly.
In an email today I thanked Ziv for his time and complimented him on the PR, however I made it clear that as long as there was the elephant in the room with R/S splashed all over it, the share price was not going to do much before the special meeting. Ziv suggested we have another conference call on Sunday. He wants to understand why a R/S is viewed so negatively. We will have no problem explaining that to him.
The one silver lining in all of this is that Jeffrey Low, of Sunbeam, is Ziv's friend and all he has is 500,000 shares. Some of us thought that he may have already converted his Series B shares into the 44 million+/- shares. So they will need our support for the R/S vote to pass.
Not sure if you read any of the posts that MjMilo and I posted on the other board. After the R/S was announced and after the latest proxy I fired off a couple of emails to Ziv expressing my views why the R/S was a bad idea. I also wanted to know if any of them understood the implications of the conversion formula, and the impact it will continue to have regardless as to whether they go the R/S route or increasing the AS route. I pointed out that the minus $.01 in the formula was problematic. Essentially what it means is that as long as the share price remains below $.0136 cents, they will be obliged to issue DGF an infinite number of shares and limited only by the 4.99% rule.
He suggested we talk so we arranged a conference call and spoke for 1.5 hours. He made it very clear from the beginning that he already told DGF that he was not prepared to work for them and continue to issue them shares on demand. The reality is that they need money and nobody will go near the company as long as DGF is in the picture. Ziv has lots of ideas and he's ready to go where he left off. As you may know it was his idea to start selling the psoriasis cream and generate revenue back in 2017.
Looking at the picture as a shareholder I think the R/S is a horrible idea. The only way to mitigate the DGF conversion damage, is to perhaps negotiate the conversion formula with them, buy some time, put out a business plan that is realistic and makes sense to shareholders, and hopefully watch the SP rise accordingly.
In an email today I thanked Ziv for his time and complimented him on the PR, however I made it clear that as long as there was the elephant in the room with R/S splashed all over it, the share price was not going to do much before the special meeting. Ziv suggested we have another conference call on Sunday. He wants to understand why a R/S is viewed so negatively. We will have no problem explaining that to him.
The one silver lining in all of this is that Jeffrey Low, of Sunbeam, is Ziv's friend and all he has is 500,000 shares. Some of us thought that he may have already converted his Series B shares into the 44 million+/- shares. So they will need our support for the R/S vote to pass.
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