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Message: Re: ccraider (and all)....
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pjw
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pjw
May 03, 2010 04:35PM
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May 03, 2010 06:06PM
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May 03, 2010 06:56PM

No, Brian and I didn't spend bazillions of dollars on trying a formal proxy solicitation and so forth, but we did more than anyone else has ever done

I am surprised to see such a gross exaggeration as to costs.

Red Oak estimates that its total expenditures relating to the solicitation of proxies will be approximately

$100,000 (including, without limitation, costs, if any, related to advertising, printing, fees of attorneys,

accountants, public relations, transportation, and litigation). Total cash expenditures to date relating to

this solicitation have been approximately $75,000

http://www.ourmaterials.com/pinnaclefund/ASURDEFC14A.pdf

In 2008, as I recall (bad with time frames), Brian and I, along with the help of several other shareholders, spent our own money to retain a lawyer who drew up a formal shareholder proposal that was then submitted to the Company. Not unexpectedly, the Company fought it tooth and nail, and, unfortunately, it was defeated.

I am surprised to learn that a senior partner at a law firm, and also a Juris Doctor, were unable to see the inevitable failure of the particular proposals before they were submitted to PTSC, and respectfully reference the SEC response linked elsewhere.

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Be well

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May 04, 2010 11:58AM
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