It will be interesting if this transaction does go thru to see "how many stock options are issued" "To Whom" and at "what price"? It appears to me to be an expensive exercise in futility how many CEO's and Director's are really needed on the L1 & L2 properties? I don't understand how the common share holders benefit from such a transaction! I hope some one will ask Randy to host a conference call to discuss such a significant event for the share holders? Is this an opportunity for the good old boys loading up on stock options - no cost to them! And create another $360K Job for some lucky CEO who does not speak to shareholders?

I've tried calling as well several times and emailing. Randy took my calls about 3 years ago - then just dropped out. I have spoke with Gale Capital in the past ... did not find him to be a reliable source for accurate information. The web page is pathetic source for information. ie. no corporate presentations etc.

It would be a responsible CEO (like other professionals in the industry) to fully disclose to shareholders in a conference call with a presentation - clarifying the benefits of this spin out.

The NZZ is a complete disaster in my opinion! Not sure what that cost shareholders in legal fee's/CEO wages/stock options/cost for shell etc etc etc! Would ISM shareholder be better off today if they did not spin the company out?

Is anyone familiar with the disclosure laws - or the exact process of spinning a security out? Or is this RM decision?