"Depending on various factors including, without limitation, the Company's financial position and strategic direction, the outcome of the discussions and actions referenced above, actions taken by the board of directors, price levels of the Shares, other investment opportunities available to the Reporting Persons, conditions in the securities market and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Company as they deem appropriate including, without limitation, purchasing additional Shares or selling some or all of their Shares, engaging in short selling of or any hedging or similar transactions with respect to the Shares, voting for or against and expressing support for or against any proposals of the board of directors of the Company or other shareholders of the Company and/or otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D."
Sounds like this group plans to short or sell dependent upon the board's reaction to their letter...of course, they could also buy more to gain more leverage (would seem the smarter move given the price of the stock). Pursuing a buyout of the company would put Comverger in an awkward spot given overall market conditions. Let's see how this plays out but I am buying lots more at these prices!!
I'd be interested to know at what price they bought in. I'm guessing a lot of people lost money and sour grapes because of it then throwing out common sense for an attempt to gain back some losses in a portfolio that is most likely getting hammered with the US economic strategy. Everyone knows you don't sell in a depressed market when its a buyers delight. Sell when seller has advantage. Company has potential and I hold a lot of stock and i'd rather trust the board and management than people who are attempting to pump the stock lower with innuendoes and side show comments. Obviously an insider at one point who felt betrayed, likely for their own actions never mind, who is spewing and working against the board. I'm confident the board is resilient enough to know the fact from fiction and those with poopy pants wanting to recover an investment quicker than good business sense would dictate.
Hey everyone loses on stocks don't make this a problem with the board its a problem with when you decided to purchase the stock. Then again i'm sure there are those that want to drive a car and make money on that sale also. haha Aint the way the world works. If I attacked the board on every stock i owned that declined at some point i'd be very busy man.
At 2 bucks everyone has got to agree this has potential to make some big returns. If you bought at 8 well you aren't going anywhere soon so those of us that invested smarter stop trying to cash out quick. Admit to your portfolio owners you suck at what you do. I could care less if someone owns 1% or 50% of the company take accountability and stop blaming others for your investment decisions. If you were smart you would support your original purchase by purchasing more and covering off the loss.
What do I know i own a pittance of this company, but I also bought at 2 bucks and under. My d!ck may be smaller, but its sure used smarter!