Fung and I are exactly the same.
I want to make as much money as possible out of this company and so does Fung. The difference is I invested my own money (and now I'm down 85%) while Fund did not invest in his own company and he made tons of money in the process. Now he's looking for the pot of gold that will never come OUR way.
Maybe I'm an idiot. (well no. strike that. I clearly am not that bright) but why do we have to "retain management" by paying them to stick around and then by giving away 10%?
While it may be necessary to keep two or three people in the company (unfortunately that probably includes Bob (Trust Me. I know what I'm doing) Fung, why does it include just about everyone else currently there?
All of KRY's actions and previous negotiation efforts have already been written down and probably are already in the possession of KRY's arb lawyers who should be smart enough to work with the info they already have or can easily get.
Former employees or board members can be depositioned or subpoenaed for testimony....or even called in as paid expert witnessess without having to be on the payroll for the next 3-5 years and without getting rewarded 10% for their previous mismanagement.
I worked for a company for many years. I left it on good terms and then, years later, I was asked to testify in a lawsuit between the two partners. I did so because I knew one partner was clearly trying get a bigger piece of the pie than he deserved. And I wasn't on the payroll when I gave my deposition and I didn't get any big reward. I gave my testimony because I felt there was an injustice happening that needed to be stopped. Period.
It's time KRY's management team got off the gravy train and found a real job.
BTW. I never faulted Richard or Andrea for doing their IR/PR job. They did what they could under the guidance they were given. Richard put in real money and I hope he gets some reward ......but not a part of 10%. As for Andrea, I'm told she's no longer with the company. Hopefully, if she wants, she can get hired again but this time with an actual gold company.
Cividale
