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I agree completely, KH. This is theft, self-dealing, conflict of interest, breach of fiduciary duty, whatever you want to call it. I'm glad you are notifying the SEC, and hope a few lawsuits can correct this situation (though they rarely if ever do - seems only the lawyers win). If this deal can be done, it can be undone too - the same parties are in charge at each of the 3 companies (CXI, COES, CXOT). CXI's stake in CXOT had a market value of over $30 million within the past year, and now COES gets it for $1.25 million - how fair is that? I'd be tempted to say that COES is a good buy now, but I'll bet the "big boys" will figure out a way to print up a bunch of shares for themselves (easy to do with BB stocks), so a stake in COES isn't safe from their claws either. If the deal announced yesterday is fair to CXI shareholders, it certainly isn't clear from the announcement. They need to clarify this, or announce that the "deal" is a no-go after all. If these people want to steal from the stockholders (assuming that is what is going on here), they ought to at least put it to a vote among the shareholders. |
