Ellen, I sincerely appreciate your concern about my timidness. And I am giving serious thought to taking classes at the New School for Assertiveness Training next month to see if it will help me overcome my obvious challenge and come out of my shell. lol
You must try to understand, and I can understand the difficulty, but I truly like the potential of the company. Admittedly not as much as before, after I have done so much more DD on Mr. Gordon and Henry. And a goodly part of my obvious disdain has been developed from the latest 10K and what I would characterize as complete disregard for shareholder value in favor of his/their own pockets. The attempt to appear as a white knight all the while taking a greater percentage of the company and just plain granting shares to himself outright cannot even be described as plausible in the face of such staggering losses. If this is a turnaround, time to tighten belts. If one want's to view it as a start-up, and it's not, even then you don't start by ensuring you get millions from shareholder equity and pocket it. (More to follow later today time permitting.)
What keeps me here quite frankly is probably the same thing that keeps many. I don't for one minute believe that James Guild, John Hwang, Keith Wine and Rob Newton would stay here if they didn't believe in the business model with the same fervor many of us do.
In the meantime I'll continue to develop the plan (mostly done,) for legal review of Mr. Gordon's actions as the fiduciary representative of the shareholders who have invested their money into the PUBLIC corporation that he controls.
I may be able to post a comprehensive update in the public thread today if time permits.
Stay tuned, we continue to move forward, all the while awaiting the outcome of REW's effort to get Dr. Frankel's Board nomination approved. Not too much more patience but waiting right now.
Listed below are the firms with which I have already begun to have a dialogue. One is about to fall away, believe it or not, they may be too aggressive in their approach. Unless they they can establish solid reasons for doing what they have intimated, they will not be considered.
AKIN GUMP STRAUSS HAUER & FELD...www.akingump.com
BAKER & MCKENZIE............................www.bakerinfo.com
SKADDEN ARPS................................www.sasmf.com
MILBANK TWEED...............................www.milbank.com
WHITE & CASE................................www.whitecase.com
MILLBERG WEISS..............................www.milberg.com
Our hope is to gather enough information so as to be able to better make whatever decisions about what is realistically achievable. I personally want a reversal of some of Mr. Gordon's personal compensation deals and others have other targets. Basically a shopping list is being assembled.
One thing holds true; the effort will add to shareholder value immediately if only a small portion of what has been discussed in general terms with the partners of these firms to date can be achieved. This effort is not an attempt to hurt the company in any way.
But before anything can be decided upon we must first go through the proper discovery process. More to follow.
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