Good post Mine. I stopped posting here a long time ago because I was repeatedly bashed by the Fung Fans. I stated then and affirm now that Fung has never cared about shareholders. Crystallex Management is out for themselves. They have received very high salaries for failing to achieve success. Now they want an even greater winfall. GRZ has been bashed as a bad company but they are returning their award to shareholders. We are looking at 35% to the DIP and 10% to management but it is highly unlikely the noteholders will get only their investment back. That will impact the final settlement. Crystallex has a large number of employees receiving high salaries including two IR representatives. None of them have any money invested in the company (RM excluded). Maybe that's a shill but I think RM is sincere.
I would rather continue paying these guys their outrageous salaries for doing nothing and failing to move Crystalex forward than give them a big piece of the pie if we are successful. My opinion would be different if they had filed many months ago when I and others believed they should have.
For disclosure, I was once a large shareholder. I have lost $163,210 in my "investment". I have only 20,000 shares left and there is no way I will ever recoup my losses. For those who think there is an upside now I think you are right. Just don't delude yourself that Cyrstallex management has any concern for you. I could average down and maybe recoup my losses but I don't trust this management team. Buyer Beware. If Agoracom wants to take my suit for these remarks, you can have it willingly.
