O.K. William I will take your bait.
I got the package in the mail yesterday and I don't think I have ever laughed so hard in my life before. This company is an absolute and total disgrace. And yes, not even, Saul will be able to put a positive spin on what is in there.
I will be brief and to the point as I don't want to take away from everyones pleasure of reading it. But here are the highlights:
Point #1 - If you bought your dog one share of this company, you would own more stock than the president. He owns nil, zilch, zero. Wow, that sure inspires confidence.
Point#2 - He made almost $300,000.00 off selling every single stock option (priced at $0.56) he could between July 2 and November 28,1996. Oh yes, the most of the other directors did the same thing (Anthony Field made a killing too)
Point#3 - We shareholders are being asked to pass a resolution to cancel all of the remaining stock options (1,500,000!!) so they can reissue them at the current market prices.
This and more (including such wonderful words such as "Going Concern") is all coming to the mailbox of shareholders soon.
The Boca Raton relocation is really making a lot more sense to me now.
Last call for Shakers, now THAT is really funny!!
Cheers,
Graham |
