I would rather he join the 21st century and employ some business acumen to conduct some PR and market this company for what it's worth, THEN perhaps financing could be done at a much higher price and we could preserve value in our holdings. Oh, but i forgot Peter doesn't believe in PR (my take is that he is incapable and that is his excuse) and of course, he can't even get a professional website to showcase our assets, holdings, and NSRs. Where is the company pride and fudiciuary duty to shareholders to educate the market that Fancamp is for real and a success in the making. So many other companies do this simple task very well, but Peter does not simply possess this skill or recognize its value.
So don't even begin to defend him Rago/Bluebird, whatever alias you are going with these days, no one can defend Peter's ineptness and shortsightedness on all the great potential squandered with this company. Merely surviving and "paying the companies" bills is a sad strategy that HE is solely to blame for in terms of steering the company in this position.
And for the record, the majority of shareholders do want a change and voted for change (including YOU as I recall!) to get rid of Peter and the Board, there was only ONE entity that saved Peter and co. and that was Marquest, which did a huge injustice to all Fancamp shareholder's in my opinion. As part of the deal, Peter would find another CEO and we saw how painfully that choice backfired as Peter quickly siezed control again, yet the majority of shareholders cleary indicated they wanted change!
It is time to get serious about another motion again in my opinion. And i am pretty sure Peter senses that which is why he recently "compensated" the BOD with shares for debt. Obviously no insider is buying at these levels so the only way they will increase their holdings is if he pays them in shares. At least that is my take.
I think if we get 5% of shareholders, i believe we can put forward a motion to get a special vote. I/we need to do some reading on this type of action and review company bylaws, but I think it's high time a group (Fancamp Shareholder Union?) is formed to demand a clear strategy, accountability, and action. Fancamp shareholders deserve much better and Peter has not delievered. I agree 100% with Tony that Peter has cashed in very handsomely and he does not rely on his 5M shares for compensation.
I can only dream that someone like Michael O'Keefe, or leaders at Osisko, David Palmer, heck even Bernard at HPQ to lead this company so we can actually see our true value and earn some respect in the market. They are clear examples of what can be accomplished when you have a competent leaders who understand how to representat and create shareholder value.
There's my rant for the day. Hopefully we can look into applying pressure on Peter and get some real leadership, not someone who is in it solely for himself and only his close associates.
Good night,
Eudai
