John, first off thanks for the words about accurately reporting the statements at the meeting. I do not claim to be a good notetaker and to be perfectly honest, I find it very difficult to be able to remember every facet of every question. Not to mention leaving home without the tapr recorder didnt help matters much either.
On to your comments. I am not willing to take up 50 posts on needless comments on our differing opinion on conduct at an annual meeting. I will restrict the following comments to my opinion only, not the others that I spoke with at the conclusion of the meeting. During any question and answer period that I have ever seen at any meeting, there is no need to qualify a question. If the question was not answered to the satisfaction of the person asking, there is room for a follow up. In this particular meeting, there were several shareholders with a substantial interest in the company, there were analysts in attendace, and of course us, individual investors. While I wouldnt go as far to say that because they possess more shares than this entire board they should have more time to ask questions. I will say that due to the time length involved in your questions took time away from the others in the meeting. At the conclusion of the meeting there were many hands still up shooting for the last question. Discussing the validity of your questions would be pointless. You found value in your questions and qualified them by your post here. Personally I found one question you had that I personally liked. When you asked how excited they were about direct IP. Now keep in mind, because I found the other questions of no personal value and inappropriate at the time, perhaps someone else in there found the questions had some value.
As for the gentleman that aired his concerns about lack of partcipation by an MRVC representitive where he had a thousand investors........ I found his point valid, yet lost after a lengthy presentation. John feel free to correct this but couldnt he had said everything in these lines...... There was a local event with a thousand potential stock holders that I tried to get a representative from MRVC to attend. Unfortunately I couldnt get in contact with anyone here to make it to this meeting. Is it possible for MRVC to have a person in the future to be able to attend? Perhaps I am misguided here John, and I am writing without benefit of my notes, but wasnt that everything that gentleman said in a fraction of the time? Also as a sidenote another person mentioned this in the meeting as well so I cant take credit. Noam is not hard to get through to, when he is in the city. Several on this board and the MF board have had some great conversation with Noam because of his accessibility and willingness to talk to small investors like ourselves. In fact if anything thats a gripe of mine as it was with Jeff. I would like to see Noam spending his time where it is much more valuable and limit his accessibility a bit more than it is now. I wouldnt mind talking to the janitor as long as the question is answered with facts and is the company's stance.
John, perhaps it was in terrible taste to ridicule an individual investor making statements at the annual. If you will notice, I dont think I ever used your name throughout. That was intentional as I didnt feel it was appropriate to go lay into you on this board. I can appreciate your $150,000 investment in MRVC just as I could appreciate $15 million or $1500. As far as how dare I ridicule an investor and the way they ask questions. I wouldnt providing that same person didnt ridicule the one answering the questions and lose time for others to ask questions.
John, the others from this board in attendance most likely will agree with you, and thats fine. I may be in the minority, I really dont know. Just my personal opinion. Yet, if I left the meeting saying these things, kind of makes you wonder what the others in attendance thought.
As I said earlier, I doubt either of us could ever come to any form of agreement. I have no desire whatsoever to debate this at length, its only my opinion and I dont like speaking in CAPS. If there is anything beyond this I would be more than happy to take this to E-mail, but its ridiculous to go beyond this on the board. Ultimately, we both have the same end result desire, to see MRVC continue to grow in all aspects, and as such, our investments as well. I wish you the best John, as every other investor.
Sam |
