>>NET SHEPHERD ANNOUNCES TIMETABLE FOR CLOSING DEAL WITH THE VANENBURG GROUP - Special Meeting for shareholders scheduled for March 21st<<
I have to tell you that I find this news extremely encouraging! I am painfully aware that whenever there are protracted negotiations taking place, there is always an element of risk that during the heat of the talks the whole process could break down and both sides would leave the table and go their separate ways. Well with this announcement or clarification from NSI, I am thrilled to say that it appears that everything is going along swimmingly ( I actually never thought I would use that word in a sentence <ggg>).
However, just to be sure that this was indeed the case, I placed a call to Peter Hunt to ask him to confirm my feelings and clarify a few points for me.
He told me that they are now down to the last few details within the agreement and virtually all of the main elements of the negotiations have been agreed to. All sides are confident that they will be wrapping up the talks by the end of the week (tomorrow). Now, I have to tell you that hearing him say this has lifted a tremendous load off my mind. Why, well it means that this great growth company of ours will be rock solid and it will be poised perfectly for the future. It also means that now everyone involved will be able to get back to focusing on taking this company (or make that companies) to much higher levels.
After Friday, their schedule will entail finalizing the drafts of the documents and then forwarding all their work to the CDNX for their approval. Peter anticipates that this process should take them approximately one week. I have also heard that that the stack of these documents is about the size of a phone book.
The exchange will then review the documents to ensure that the meaning is clear and the agreements are indeed solid. Following the approval from the exchange, NSI will be printing the required shareholder information for distribution (mailing) to shareholders.
Peter feels that this will be a big job. They have planned for some slippage in their schedule, and as a result they expect to get the packages in the mail by the 21st of this month. Roughly 30 days later, they will hold the special shareholders meeting.
Now, here is some wild unsubstantiated speculation on my part. I firmly believe that NSI will use the lag time between now and the meeting to create some excitement about what they have been working on for the past number of months. I will tell you that I am extremely excited about the possibilities that their technology offers.
I also want to tell you that I was also fortunate to be able to have a conversation with Ric Charron yesterday (Ric is NSI's CFO). I had some questions to ask him about the progress being made with Answers.com. His response to me was that Bill Fogg and Mike Morrison from Answers.com "are just smoking!" They are doing some tremendous things down there that will catch everybody's attention. He also said that David Herman with the Business Intelligence company is also really doing a solid job of pulling things together as well.
Now I want to emphasize that a person would be foolish to invest based on a telephone conversation, but I have to tell you that Ric seemed so excited about what was coming together that I couldn't help but get excited just talking to him. To top it off, I want to remind you that he is an accountant by trade, and accountants don't excite easily. <VBG> Sorry Ric, I apologize to you and all accountants out there for that shameless generalization. <LOL>
Yes, today's news was great to read. I am now more confident about where this company is headed than ever before. And in case you are wondering, Yup, I'm having fun now.
Crazy Canuck |
