By: dpol1835
Reply To: 436 by Bijou
Sunday, 31 Oct 1999 at 9:34 AM EST
Post # of 437
This just in Says it all
Dave:
I am responding to your e-mail expressing your
concern over the reverse stock split.
First, let me point out that the reverse split
issue, as well as other financial issues, were
discussed and a resolution approved by unanimous voting
shares at the Shareholders' Meeting in May, and the
appropriate board authorizing resolution was
subsequently adopted. This is discussed in the 10QSB
for the second quarter ended June 30, 1999.
One of the reasons for the action is that we
feel that it will increase shareholder value by
lowering the number of shares in the float, while
making it easier to achieve our goal of growing through
acquisition. As we all know, buying anything costs
something. For Salient Cybertech the viable option
requires the use of stock, either to acquire with
directly, or to sell in the open market to raise
capital. A stable share price with a modest float is to
everyone's advantage. The post split float is about
193,000 shares.
As for shareholder value, this is the reason
everyone at Salient shows up for work everyday because
our pay day is based on company value which translates
into shareholder value. I, as well as most of our board
members and corporate officers, have sizeable common
stock holdings and share your concerns.
As for your question about a NASDAQ listing, I
truly believe that every bulletin board company wants
that, but our focus must remain in building core
company value first and then move to the next level.
Lastly, a lot of people have invested money and
time as well as personal resources in the company.
Everyone at Salient Cybertech takes the business and
our shareholder responsibilities very seriously. We
believe in what were doing and that in the long term we
will all be very successful.
Paul A. Sloan
President/ CEO
Salient Cybertech Inc. |
