I received my proxy statements along with the 10K today. This was mailed out last week. The Presidents letter is scheduled to go out in the mail this coming Friday.
Also enclosed is a letter from Stan Ovshinsky asking for our support in voting for the approval to extend the current special voting powers now in existence for another six years, to prevent any takeover attempts. These special rights would also extend to Bob Stempel.
Personally, it is in our best interests to approve. What ever short term gain we would realize, if these special voting powers are not approved, by a hostile takeover would not begin to make up for the long termed losses we would all face if a takeover were indeed successful.
Imagine if you will, anyone of a number of Fortune 500 companies, for openers, let alone foreign companies who have some very deep pockets who would just love to get their hands on such a firm as ECD,
on the verge of commercializing four unique major international core
technologies. We would be swallowed up and assimilated into some
multi-billion dollar giant that could be treading water, looking for some potential new growth, which would seriously dilute ECD's share of the growth. Again, this is my personal opinion, but one that I believe
are supported by the facts.
Toyota alone has 30 billion dollars (US) sitting in the bank. Many, many others have multi-billions of dollars in their bank, looking for the right opportunities to invest in. Can you think of a better potential opportunity than ECD with its unbelievable low market cap?
Comments?
Regards. |
