I am one of the "settling dissident shareholders" and have been composing my extensive notes and observations from yesterday's annual meeting which I expect to post over the weekend. I am not under any further legal obligation to support management. However, I will state unequivocally and without any coersion, that my impressions of the meeting and recent management moves are EXTREMELY POSITIVE. The company is belatedly doing everything it needs to do to transition from a development stage company to a real business. CB seemed energized and positive. New directors are excellent. Marketing plans and ad campaign are right on. Once Stanson deal is definitively terminated(next week or two), we should see a series of positive developments. I know many of you will remain skeptical until you see the results, but this is a far different company with a real activist Board of Directors, CFO, COO, etc., than it was 18 mo ago when CB & Reinstein made decisions on their own with no real imput from others. Financing is still not settled, but will now become much easier after yesterday's meeting. Having discussed matters with a number of major shareholders, I know that I am not alone in my positive feelings.
Although I now feel that I was somewhat naive in joining the 13D, I have no regrets, because it helped bring these positive developments to a head.
Robert Binder |
