A PLEA TO ALL MIOA SHAREHOLDERS
Vote against the increase in shares. We all knew that when the reverse split took place that there were less shares available for acquisitions, and the management was willing to accept that. In addition to that they were willing to accept the fact that all of us in MIOA at that time would get ROYALLY screwed on number of stocks we owned. We basically gave them a chance with 8 million shares to show us something.
They have added significantly to the revenues, but have given away over 3.5 million shares. Let's not forget it, but put it in the past. There are still about 3.5 million shares available for acquisitions, I say let them be efficient with those and PROVE to use they can make this company drive. If there was a little concern for the stock price, thet would not need to hand out so many shares since the stock would be more valuable. Obviously, they are okay with a low shares price-this is why so many shares are need for acquisitions. The acquisition of FPII only cost less than 900,000shares, and it added significantly to the revenues and profits. Not to mention that restructuring the existing contract with the mobile cath units and adding contracts cost no shares.
We could theoretically add almost 4 Dr. Tai-like practices with the shares we have now. As slow as MIOA is moving, that could easily take us to next year's shareholder's meeting. At that time if the shares are used, then support adding shares to the amount available.
They basically took our shares away last fall and now want to(continue) give them away again. This was the problem the original management team had. Kept diluting and adding little revenue. Now I know this is the new team as I mentioned before, but I do not believe we should give in to these demands. Let us stand up for ourselves and say no to the addition of new shares, and say yes to using what you have to acquire.
This team said it wanted to concentrate on its core business of providing cath labs. With so much supposed desire for MIOA's labs, why get into acquisitions more than showing us this need for MIOA. Get the labs out. For the first time, since reading the proxy, I am worried about the future of this company if these shares are voted in. With the management team having so many shares to vote, it would probably take all of us to vote against it to deny it for now. I hope we can do it.
By the way, do you not think that asking for such a large increase in shares is ridiculous. Why not 5 million or 10 million. We are in danger of letting this great opportunity slip away if this happens. Please consider what I have said. |
