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Microcap & Penny Stocks : Saliva Diagnostics (SALV)
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To: Steven Seefeldt who wrote (2054)2/8/1998 5:44:00 PM
From: rl  Read Replies (2) of 3369
 
Steven,
I am glad you decided to vote against the split. I too am a long term and large shareholder who has seen my investment dwindle to almost nothing. I believe that SALV has a tremendous product that is needed by the world, the reason I became involved. These are cliche's, but still ring true. What saddens me is the direction that current management is headed. It is bizarre that a small, publicly traded company has a CEO and President who lists his address as England and keeps his assets off-shore (all in SEC filings and proxy). The same officer grants himself and other BOD members large quantities of options at an undisclosed strike price. If you want to speak to the CEO of SALV, you'd better be ready to call someplace other that the US or SALV offices (I have tried). It is awful to see what is happening to a wonderful technology that does have a market if it is done correctly by people who truly care for something other than themselves. I hope that other shareholders realize, as you have, that approving the split will only assist management to continue down the road of printing new shares and diluting value. The focus will not change to growing sales and advancing the technology until a new mindset exists. It's too easy now. Delisting is not the worst thing that can happen to SALV. Allowing newly issued preferred shareholders to pick through the bones is even less attractive.
rl
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