if they dilute the stock then you have to believe they are doing it for the good of the company. if you dont like the action then vote down reelecting all old board of directors or sell your stock.
If hypothetically, you had your stock diluted 75% and the stock is trading $25 3 yrs from now or if you hypothetically didnt have your stock diluted and the stock is trading at $.50/share 3 years from now, where would you rather be.
as for the BASHERS changing their minds, i think they may have trouble convincing longs at this point that they have changed sides. why should longs believe the BAshers? I do not think anyone is left listening to you guys. I think its time to move on to another stock.
One of the principles of the capitalist system of corporate law is the principle of fiduciary responsibility of corporate officers. One could say that by shunting debt off the books, Enron officers aided stockholders by raising the price of the stock.
We now know that this was a short sighted maneuver. There are many gray areas with regard to fiduciary responsibility. The fact that Geron's officers and directors are protected from dilution while other classes of stock holders are not seems to flaunt the principle of fiduciary responsibility.
As long as we have shares to vote we have a choice. Casting your vote supposes that you have an opinion about the actions of the management. I am expressing my opinion. I will cast my vote. You may choose to ignore this shareholder right. You have a right to do this.
There is another choice. Vote against the proposal and let management know that our interests should be theirs. Their incentive should be to support our interests, not forget about us and look after theirselves.