Steve, 2 reasons why CCEE is still holding up, IMO. One is, at present there is only a proxy vote and none of these issues are a done deal. Second, there well may be some profitable deals in the works (or consummated) that can lead to short-term appreciation of the stock price.
Remember, management still would like to see the stock price rise, as that would increase the value of their plethora of additional shares that they will be able to issue, and keep the market value higher during the dilution process. And the stock can remain at levels reflecting current market cap, revenues, and outstanding shares until and unless management starts to issue more shares and dilute present shareholders' equity.
Also, you suggest that many other stockholders may also be aware of this chicanery. I have not seen a *single* person here question or substantiate the information in the proxy form regarding reverse splits as I have done. And yet it's in there in black and white, and is far more damaging in a dilutive sense than the straightforward 150M share authorization increase.
Besides, most shareholders would simply vote 'yes' on all proposals anyway, as suggested by management. Or not even bothe rto vote. $^( |
