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Message: Regarding Gloria, CJ & Jr...

Regarding Gloria, CJ & Jr...

posted on Oct 08, 2009 12:51AM

Gloria was appointed to the BoD because she was the trustee of the Falk Family trust when it held nearly 17 million shares, which at the time represented about 15% of the OS

Falk Jr Director since '97.. heir to the Falk Estate, which is/was the beneficial owner of the shares held in the Falk Family trust.. again representing his interest in the 10 million shares his father received for the Shboom technology..

Johnson.. Appointed in '01.. to look after the interest of his boss Swartz' growing supply of shares and warrants which would grow to over 150 million, and probably close to 200 million..

So these three were appointed basically to look after their own interests or the interests of their employers due to the large number of shares they represent..

Since these appointments, the shares in the Falk Family trust have been distributed.. I believe Jr still holds ~2.6 mil shares..

Johnson's representative interest, Swartz' shares and warrants, have basically been converted & sold.. probably at least 90-95%..

So, basically, the main reason/s these three were appointed to the BoD has long since passed.. the shares whose interest they watched after have been distributed.. their missions accomplished.. especially CJ's.. Do they really still deserve a place on the BoD??

I would love to see accomplished, experienced replacements brought in before our hopeful steady climb up.. to steer this thing like a real company.

jmo.. off the big board

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