Re: milestone / Re: greeneyes / Re: Mark4321 / Re: Opty, do all MMP communications b
posted on
Mar 24, 2011 09:43PM
So essentially, these people signed off on the agreements, received their compensation, and what? Remained as "directing shareholders" versus "ordinary retail shareholders"?! Is that your contention? I haven't seen anything since that would support that. Have you?
Hmmm.... so granting your supposition, these people (of course we know except Carlton's Pal ES) were out of the picture as of June of 2005. OK. Your turn
EXPERIENCE
Shareholder Activist, Patriot Scientific and other companies, 1999-present.
Attend all shareholder meetings and regularly make suggestions to the Board of Directors regarding business operations, shareholder value issues, future company opportunities, handling of company issues and problems, financial management, investments, cost controls, etc. Demand a strong emphasis on company due diligence, executive accountability, and shareholder responsiveness.
•Pushed the Board of Directors to reduce their compensation before it was lowered 20%. Continue to push for further reductions and proposed that compensation be performance based and options only.
•After witnessing repetitive write offs on all investments, strongly urged that investment strategy be changed. Directors admitted at the last annual shareholder meeting that management made poor decisions with Board oversight.
•Successfully insisted that the M&A program be terminated; told directors that costs should be drastically cut and licensing fees paid to shareholders. Revisions are currently in progress.
•Discovered substantial overpayments for business acquisitions due to lack of proper due diligence, which was later confirmed by company's post-purchase due diligence analysis.
•Determined weaknesses in senior management leading to replacement.
•Warned of the inequitable agreement with the company's licensing partner years before the existing law suits.Continue to be concerned about the final outcome of any potential negotiated settlement.
•Advised Board on foolishness of loaning money on an unsecured basis to licensing partner.
•Provided support to investor relations company to coordinate and strengthen public relations effort, and proposed investigating listing company on a superior stock exchange.
•Remain current on shareholder issues and demand that company keep shareholders more informed with all developments, good and bad.
http://agoracom.com/ir/patriot/forums/discussion/topics/433472-shareholder-representative-for-bod/messages/1417713#message
The above would indicate that at least one was NOT "out of the picture as of June 2005", as you suggest.
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Be well