First of all, in reference to an earlier comment about why don't we do a deal domestically, I suggest that the readers take a look at "TGLEF" and "ROH.TO" (on the TSE). In both cases, you had small companies that were active internationally, and then switched to domestic operations to try to get things going. In neither case has this worked. And on top of that, TGLEF lost its listing on NASDAQ.
In reference to the rights offering, rights are issued to shareholders on a pro-rata basis, and so everyone (my "cronies" included) would only receive rights proportionate to how many shares they own.
As to the warrants, I am also a warrant holder (100,000). Unfortunately, many of the warrants are held by the "pros" at Gaines Berland in NY. If we lower the exercise price of the warrants, the "pros" will use this against us - going short against the warrants, and so on - making it next to impossible to hope that the share price would ever get over $1. So by suggesting that we reduce the exercise price of the warrants, you are looking to potentially help the warrant holders at the expense of the rest of the shareholders. Do you not think that this is very selfish compared to the rights offering that I am proposing, which is to the benefit of all shareholders?
Everyone who is voting along with Hilt (Florida Cracker) better think very carefully about whether he really has your, and the Company's, best interests in mind.
(BTW, Hilt - I am 35, not 32. Try to get your facts straight. Oops, I forgot, you don't use facts.)
DRR |
