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The prevailing argument given to keep the board in place was a bogus claim that the gossip associated with removal of board members would be harmful to the company. That was clearly not true but it was all wavx management could come up with and they communicated that through their agents. The agents ran with that and gullible shareholders followed along. Now they are paying the price.
It isn't a polar thing. Imagine what financial shape the company would be in if management didn't siphon $50m+ to wavxpress? You can bet the siphon to family at scrambls is quite a few million currently. The company shows no signs of financial restraint. New management would fix that immediately.
"I so sure of not having a reverse split that I will go on record and say that I will sell all my stock if that happens." snackscum, January 11, 2013 |