This is the official communication we have from the 13d group. It is from item 4 of the original filing.
The Reporting Persons intend to have discussions with representatives of the Issuer’s management and board of directors (the “Board”) relating to, among other things, shareholder value, operational failures, performance, management, underperformance relative to its peers and the Reporting Persons’ lack of confidence in management. The Reporting Persons may seek stockholder representation on the Board, as appropriate, including but not limited to through the initiation of a proxy contest at the Issuer’s 2021 annual meeting of stockholders. Mr. Rosenbaum is acting as the representative of the Reporting Persons.
We have some unofficial communication from 5%er, Closet and, perhaps, from Rosenbaum's son. I recommend that we disregard all of the unofficial communication.
Based on what we see above, it is likely that there are discussions happening with the CYDY directors now. Depending on the outcome of those discussions, there could be a compromise worked out for a "friendly" proxy vote. Or, there could be alternate slates put forward. It is not realistic to expect that we know this now. It has only been about 22 days since the 13d filing. And, I doubt that the CYDY board was super anxious to enter the discussions. But, they probably have by this time.
The shareholder meeting won't happen until Sept or October. There are clearly defined rules for timing of proxy solicitation materials. There isn't a chance that we get the plan "at the last minute." We will get it with proper notice, or it won't be considered.
Let's sit tight and hope for a good longhauler report and confirmation that the Brazil trial has started. And, maybe, a revenue report from the Philippines.
The Reporting Persons intend to have discussions with representatives of the Issuer’s management and board of directors (the “Board”) relating to, among other things, shareholder value, operational failures, performance, management, underperformance relative to its peers and the Reporting Persons’ lack of confidence in management. The Reporting Persons may seek stockholder representation on the Board, as appropriate, including but not limited to through the initiation of a proxy contest at the Issuer’s 2021 annual meeting of stockholders. Mr. Rosenbaum is acting as the representative of the Reporting Persons.
We have some unofficial communication from 5%er, Closet and, perhaps, from Rosenbaum's son. I recommend that we disregard all of the unofficial communication.
Based on what we see above, it is likely that there are discussions happening with the CYDY directors now. Depending on the outcome of those discussions, there could be a compromise worked out for a "friendly" proxy vote. Or, there could be alternate slates put forward. It is not realistic to expect that we know this now. It has only been about 22 days since the 13d filing. And, I doubt that the CYDY board was super anxious to enter the discussions. But, they probably have by this time.
The shareholder meeting won't happen until Sept or October. There are clearly defined rules for timing of proxy solicitation materials. There isn't a chance that we get the plan "at the last minute." We will get it with proper notice, or it won't be considered.
Let's sit tight and hope for a good longhauler report and confirmation that the Brazil trial has started. And, maybe, a revenue report from the Philippines.
12
