Thank you Brady. We completely agree with you and why we are so concerned regarding last year's 'Classified Board of Directors' Def/14A proxy item. TMSR now has a textbook entrenched Board of Directors. Each director, incl. the CEO, CFO effectively has ties to FPS Computing, a 20-year shareholder nightmare ending in Chapter 11...(management's and the Board's previous [failed] Company). This is a good old boy's club whom have and will protect their own to the point of approving the necessary Board/Proxy resolutions, without shareholder approval, to legally and in perpetuity? protect said entrenchment. Said insiders also own appx. 53% of the outstanding shares of (NASDAQ:TMSR). It is accordingly difficult to hold said entrenched Board's feet to the fire. Steve [and Kent] apparently not only don't care about their pejorative effect with the street but apparently are defiant about it and essentially hide from their shareholders when confronted with it. This formula simply doesn't work and never has in maximizing shareholder value.
Are Steve, Kent, the Board on some kind of mission to redeem themselves of what happened to FPS Computing, at the expense of TMSR shareholders? How does the street get excited about a [perceived] boring CEO, of a company, within the hottest, and by definition, the most exciting sector within the PC Industry and now the console industry? The two are simply irreconcilable. The Website of Dorian Gray was not far off...TMSRs website is Steve(.)
This is precisely why the shareholders are witnessing incomprehensible shareholder value destruction and not because of Asia nor in simplicity with a particular weak tech-stock sector of the day...and, as a matter of record, management has still not acknowledged our requests to discuss all our various concerns/ issues, which were specifically cited and presented to them via phone and email, to date. We neither desire to appear to be disrespectful nor hostile to management as they have delivered the fundamentals. However, the fundamentals are merely one part of shareholder value's (stock price) infrastructure...and management has failed, to date, to instill the requisite confidence with the street.
This is tragic and we will continue to vigorously lobby/urge all shareholders to vote their proxies, at least, to send a very strong signal. |
