All,
In my humble opinion (from my conversations with various persons at AGTI), for what it is worth, financing will be secured by the end of April. The financing package will be worth approximately $6 million. Conditions of this agreement may include: 1/4 of the money be spent to clear up ALL remaining debentures, 1/4 of the money be spent to clean up the balance sheet( receivables, past commitments). This would leave the remaining $'s to be spent on R&D and production for current contracts.
IF this financing is completed--- there is another issue that we shareholders must be prepared to face--- the request by the company for a REVERSE SPLIT. A previous poster on SI or AOL stated that an investor package with a letter from Tom, annual meeting information, and a proxy card will arrive May/June. If I were a gambling man, I would be willing to wager that the words REVERSE SPLIT will be on that proxy.
I bring this issue up not to create turmoil or fear, but rather to promote productive discussions (pro/con) with regards to this possibility. Hopefully, as this thread is read by a great many shareholders(and possibly company officials) a UNITED game plan can be agreed upon---- should this issue arise.
My personal opinion is indifferent. I have seen reverse splits succeed and fail. If one is to succeed, there must not be any more shares issued after the split. We, as shareholders MUST be adamant about this. Otherwise, we would be better off at the 150 million limit.
This will become a VERY important issue as this company becomes headed in the right direction. We have supported this company through some very trying times(past and present). We should not be penalized for our support. Definite, contractual binding statements must be made by AGTI so that we may vote in a way that is best for the both of us.
I hope that my comments will be considered and responded to. We should all know the FACTS and be UNITED in our vote if this issue arises. |
