We all know that shareholders were in favor of majority voting which is why the proposal was approved at the annual shareholder meeting. So now what? Have we seen the by-law amendment and do we know how the BoD will go about replacing themselves if there is a failed election as Pete Lozano and others believe there will be? No we have not heard nor have we seen this by law amendment.

I have written to Cliff on two separate occasions asking to see the by law amendment so we will know once and for all.....if the directors fail to be elected will they choose their own replacements or allow shareholders a voice in doing so? If they choose to hand pick their own replacements, what makes you think that Carlton won't choose another attorney from Rosewell Partners. Perhaps Gloria might ask Helmut Falk to return. Is there anything that says a former director cannot return again?

Right now, the only thing we can do is to submit our nominations for the board before June 1. Then we wait as our current BoD once again uses shareholder money to pay attorneys to write letters to the SEC stating why those nominees should not be allowed to be on the proxy.

I don't have facts but my gut tells me there are skeletons in the closet and this board is hell bent on protecting themselves by doing everything possible to prevent shareholders from having a representative on the board. Time to start thinking about your nominations and other proposals. Term limits might not be a bad idea and options based on performance.