To all: My reading of the annual report yields this. Last September 15, Alan Saroff executed a $1,000,000 P.P. with Naxof. He got 200,000 shares at $5.00 plus 200,000 warrants struck at $6.00. A provision allows him to reprice the package within a year if the company sells securities within a year. PUNCHLINE: By doing this recent P.P. following the price decline, these shares were repriced to $2.25 and warrants to $2.70, giving the holder 444,444 shares plus 444,444 warrants for a net increase of 488,888. WHO PROFITS FROM THE SHAREHOLDERS LOSSES?
FWIW, my support is behind Fred Arkoosh tomorrow. Fred has a paid for stake in this company (1,400,000 shares). He helped us all last year when all seemed lost with the ASE. He has a strong relationship with Ledoux ( I'm told there is a bad relationship between Sid/Norton and Ledoux). Sid owns 4,000 shares; Norton owns zero. It is outrageous to think that their fortunes are not aligned with ours. They have presided over this disaster. They will not return the phone calls of invested parties. Their only response to our troubles has been "If you don't like it, sell your shares". Bulls**t, it our company not theirs! I don't like it, but I'll not sell my shares I'll buy better/more aligned management. |
