Ok I am in agreement with you all on the delays, albeit some of the things being quoted and said are not really making a lot of since. Agreed 6 months to complete a merger is somewhat unusual, and there seems to be a credibility issue rising from this lack of news, and yeah I think most of us are tired of sitting on a loss and left wondering why.
I have not spoke to Jack Arnold in the past 7 to 10 days, but I am going to have to side with him on this issue (for now). Simply because to a certain extent, I understand what is going on, in his situation.
1. These renegotiations are going to take time, if he chooses to issue warrants, everyone is demanding they be publically tradeable, well these have to be filed and approved by both the SEC and NASD, theres nothing he can do about the speed they handle these things.
2. WOTD/CVIA had a business plan and future plans laid out around this 300 to 1 split, as it seems they have re thought this, (thankfully) but then again they are going to have to re adjust their business plans and acquasition plans to meet the new share ratio. Guys business plans take time to readjust.
3. What if some of the acquasition candidates, got spooked over all recent anarchy they maybe needing some re-assurance that they will be receiving proper and secure compensation for "exchanging" their business for paper.
4. If WOTD plans on using the CVIA name or symbol they maybe are having to file new local and federal paper work.
5. WOTD backers and investors may have threatened to back out, when they saw this share holder revolt... they may have demanded WOTD CVIA make things right with us, before they invest.
I can go on with reasons that would stall the merger process, due to having to "redraw" the "corporate blue prints". All this will take time, money and new legal issues.
I could be wrong, but its just some thoughts I have had regarding some of these new delays.
KAA |
