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Message: I have to ask again: Where is the patriotism?

Patriotism, first let me say, very nice, concise, and well written post. I like and very much appreciate your style. Second, let me say that even though your post was directed at Wolfpackvolt, I am responding and this is all in my opinion and my opinion alone.

 

I am going to just respond to #4 as that is where the meat is IMO. I agree 100% with your assessment that $20M should not be used to purchase a startup at this time. I also agree with SGE 100% that the money should be used to buy back stock, because if we fare well in Texas, the increase in SP for the shares we repurchased would/should/could return a much a higher profit in a much shorter time than the purchase of a startup. My beef, why is our management not more aggressively doing this? Do they not believe that we will fare well in Texas? Just a hypothetical, let’s say we used $10M to repurchase shares at an average 50 cents/share putting 20M additional shares in the Treasury. We win big in Texas, and let’s say the SP moves to $3/share. Now we have potentially $60M to make an acquisition. Would this not be considered a plan for future expansion by management? Would this not be considered as forward thinking by management?  This would still leave $10M in the coffers to bankroll the company should we not settle, go to trial, and work through an appeal (guaranteed) if we win at trial. IMO, even if the latter happens, that being we win at trial, and an appeal is quickly filed by the J’s, the SP still is increased by the verdict therefore increasing the value of the shares held in the Treasury as a result of the buyback. If we needed to sell these shares to raise capital we could. If we needed to use these shares to make an acquisition, we could. In short, what I am saying is that I would rather see management spend money on buying back shares, as compared to dishing out $50K for the Cohen report, or $50K for a BoD member to chair a special committee, etc. IMO, they should be focusing all their attention on what is happening today, the trial, and identifying ways that we can capitalize the most by it. This is all my opinion. Thanks Patriotism for your efforts. Good luck to you, me, us, and all longs.

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