therealist,
I have no doubt that current management will be able to raise enough capital to keep this company going. If that's your biggest concern then go ahead and vote the white proxy.
(Notice the bold, italicized text above? Why you would go through the trouble of confirming with Agoracom the acceptable use of CAPITAL LETTERS in the right context? Bold letters are a much more logical option, but this does give me a very strong clue as to your motives here; you're trying to disrupt and discredit posters here as much as possible, while staying within the rules, which you have carefully outlined for yourself and are vehemently adhering to. I suspect also, that you are trying to rustle up evidence for use in libel suits)
My problem with current management raising this capital is that they have made it crystal clear that they intend to raise this capital at my expense. Current management will not allow me to participate in their private placements, but will dilute my share value down to almost nothing if they can get away with it. I know this not because they've been vilified by bad drill results, I know this because they are currently trying to do this.
Answer this for me: Why would I care if SLI succeeds if I am left behind due to dilution???
If I vote the WHITE proxy, in my opinion, I'm guaranteed to lose. On that one simple fact of dilution alone, I am guaranteed to lose.
I used to support management too and have defended them on this board. Their actions looked suspicious sometimes, but I believed that there was an endgame that would benefit shareholders. It has become clear to me that the benefit of shareholders is not a concern for management. One could argue that management has actually made a deliberate effort to hurt shareholders for their own gain. I won't make that argument though because of looming threats to take me to court for doing so (right or not, lawyers cost money).
It wasn't just poor results that drove the price down. It was reporting those results in a pathetic manner. The only thing the released results did was create confusion. Management did nothing to quell that confusion; confusion that they caused.
The share price tanked and all eyes were on management. We didn't receive clarification on the results of our drill program or information on how we were going to proceed, something that likely would have helped the share price. Instead, we witnessed our management divert their attention to other ridiculous endeavors. Sponsoring poker players; sponsoring fashion shows; buying websites off their friends; traveling around the world like Rockefeller; creating new companies; creating new deals with these new companies; letting those deals fall apart; investing SLI money in properties that we were giving away to one of the new companies ($0.25 million, I believe they said was slated). It was one thing after another, but no focus seemed to be on working on Tesoro or putting an end to the bleeding of our share price. In my opinion, all our management did was sell their shares and contribute to the downward spiral of our share price.
You keep saying that Lori can't put gold in the ground. No, she can't but she could tell us:
1) What she has done to look for gold in the ground
2) What was found in the ground
Enough of this crap about "I have disclosed what I am legally required to". That statement implies a defensive stance, a fear of ending up in legal trouble. Why is our leader worried about getting into legal trouble??? Just tell us what you found! We're not going to sue for not finding anything! Tell us were you drilled and what the results are! Simple!
In short; I don't believe current management is looking out for my best interest, I believe they are looking out for their own personal best interest.
I believe the new proposed board members will be focused on increasing share value, that's what I'm voting for. It may be a rough ride, but I'm fine with that. At least I stand a chance of seeing my investment account rise from the ashes with the new nominee's.
IMHO GLTA
Attention horrible people:
Disclaimer:
I accept no personal responsibility for the adequacy or accuracy of this post. It may be completely incorrect, even though that is not my intent.
