Excellent reasoning and assessment of the position we are in as retail shareholders going forward. I too do not see anything illegal in what has gone down (so far) with the new BOD. Immoral maybe??
To get right down to the point, I think most of us are still pissed that Richard got ousted the way he did and no matter what the new BOD do in the near future they will be under scrutiny and not trusted. We can beat the hell out of the financing issue at $.80, but only time will tell. As for communication coming from the new BOD explaining their every move, it simply is not going to happen, any more than with the old BOD. I f we stop and recollect there were many times throught out the past year posters on this forum were complaining about the lack of news. Remember the so-called Lab screwup. I really do not think we were given news at that time on a timely basis, nor were all the facts explained. That is just the way things are done, sometimes when you pile the kids into the car they aren't told where they are going (it's not illegal).
The issue over the options, maybe excessive but like Hoov said no warrants attached. These guys are going to be paid on performance going forward, that is to admit their reward kicks in at $.80 is a little suspect (still not illegal).
Remember for most of us the retail shareholder we voted them in as the new BOD thru our proxy to Richard Nemis. Would any of us that did that change our decision? For me I trusted Richard and I still do. He made the decision to go along with (or VOTE in favour) the composition BOD as we have. You have to ask yourself, knowing what you know now would you have signed over your proxy (assuming you did) to Richard. I know I would have. That still doesn't mean I'm happy about the whole thing but as Richard said something to the effect ,"he made the best deal he could out of a bad situation". I'm sure he is not happy either, nor is any of the old guard.
I do feel that the blacker we paint the new BOD only works against retail and the SP. A market correction in due time, continued drilling and good assay results will be our friend. Future decisions made by the our new BOD will ultimately have an influence in our acceptance of them. If they get you and me to the target we set for our investment then they will be heroes. If they sell us out way undervalued then they are lying, cheating no good bast...ds, but probably still not illegal.
Let's give time a chance!
JMHO
Justduke
