the law.
David B.: First, Mike, Stuart, Richard et al have all read your post by now so are already on notice with yet another shareholder regarding 'fair valuation' vs. alleged undue influence, breach of fiduciary duty, self-dealing, violations of corporate opportunity, etc. You can be assured that your concerns have been seen by the appropriate directors of Advanced Gravis.
Pursuant to your concern re: valuation and the law, Mike Cooper, as a duly authorized representative of Advanced Gravis, has already stated in a recent company news release that should there be a full tender by (NYSE:AMB) at the proposterous valuation of < $6 million or $C.45/share it will have to go to court. And that is just the beginning... Cooper obviously determined $.45 was preposterous or he wouldn't have inserted his disclaimers within siad release regarding the legally binding innocuousness of AMB's offer.
On a more interesting note I find the recent joint venture announcement between Advanced Gravis and Microsoft somewhat more than a coincidence...and you know what my position on coincidences is...they simply don't exist...
Tim Zier was recently all over the nightly news having established a new toy store in Seattle, Washington. Tim Zier was the former CFO of Logitech (z.Log) who was the alleged trojan horse who became the CFO and a director of Advanced Gravis back in 1990 when I was also a director. As an aside Thrustmaster had just launched their Mark IV? flightstick and I suggested to Tim at the annual Director's meeting in 1991 that Gravis acquire TMSR as the handwriting was on the wall regarding TMSR' future brand equity. Gravis, at that time was listed NASDAQ through my efforts, making an acquisition a slam-dunk...the rest is history.
Anyway, after Gravis' stock was driven to $C5/share and Logitech left with over $20 million in (extraordinary) profits (Sagit alleged John Campbell was compensated for this trx!) from their investment in Gravis having sold at the top and abruptly resigned from the Board along with competing with Gravis with a new soundcard and new joystick (WingMan)...Stuart Morrow, Gravis' legal counsel, confirmed at the '92 AGM, that Gravis was aggressively looking at suing Logitech for alleged misrepresentation and violations of corporate opportunity given their legal control as a shareholder and of the board of directors...Grant Russell, Brad Craig, et al were devastated at what Logitech did to Gravis...anyway,
Tim Zier now owns a toy store in Seattle (announced 11-28-96).
Gravis and Microsoft now own a toy store in Singapore (announced 12-5-96)... |
