You own a significant amount of shares, right? Over 3% of the outstanding voting shares? If so, would you be interested in sponsoring a proposal to modify the "shareholder rights" plan aka poison pill? Obviously, this wouldn't be for this year, but if you are interested I would be happy to help you sponsor it and put it to proxy.
I am afraid that your vote against directors isn't going to work because there was no one put up as a replacement. Just happened to Leon Black at SIRI.
I think if we can push the threshold to 35% from 23%, we can get someone in here with some clout that really put forward that Dan Loeb type pressure on the board, maybe get some guys on here that can put it to sale and make some of the long term shareholders whole. We can at least approach the board and see if any of these guys want to start putting more on the line for the stock. I know 1.2 million in option/warrant comp and director salaries + sg&a doesn't seem like much, but when we're talking about a $30-$40 mil company doing huge top line $s and good operating margins, I just don't see a management and BOD that really is caring much about what is going on with the stock or coming in and scooping up shares down here.
I encourage all of you to look up the name "David Callan" and SRI Surgical.
You guys don't want this to happen to you. Insiders just kept dumping shares until they sold it at a price far below their 2010 offer.
You guys are in this stock because you like the business. You're all in agreement that you hate the stock. You all agree that the company is undervalued.
I am not a fan of poison pills, especially when there is no unsolicited bid anytime within the past few years. My goal is to simply weaken the poison pill but keep a provision that will allow an implementation of the existing terms if there is an unsolicited bid. This way a few hedgies can get in and throw some weight around if they see opportunities, management and board need to buy stock to keep their interests in. They'll be forced to drive better earnings. We'll benefit. Michael Scott would call that a win-win-win-win.
I think this a good strategy because, the company is doing good things outside of its treatment of shareholders. I am not concerned about this company not acheiving top line growth, I am concerned about what gets to the bottom line.
Fair enough. I'll check back with you in a week. I am ok with making some phone calls, writing some letters/articles, and trying to find people who will value this business more than BOD and management currently do. This includes current and potential future shareholders. My goal is to get people to value the business and deliver earnings to shareholders, not just promises.
Let's see where we are at in a week's time. My offer will still stand with you.
I would love to say that we could make a change but the ball is in Austin Marxe control. They can influence management and they have chosen to sit back and do nothing. They invested an additional $3.5 million in the last financing round and the only way they get out is a takeover or a serious move upwards with volume. Lets see what happens tomorrow and go from there. I have to believe we will hear something within the next few weeks because the company has never been in better shape and the company should have no problems hitting numbers and even beating this year. The real problem is changing the board to bring people in that care about the shareholders and we can try and add a member for next year but I just can't imagine things will be the same or PFSWEB will be independent.
Guys, it just happened to STRC. Go look at the board over there to see what could happen when management does not proactively return value to shareholders.
lowl, I need someone with some influence. You know the business. You know the opportunity. You also know how management/BOD has not returned any value to shareholders.
We need to get some agitators in here. I'm not talking about doing anything detrimental to growth prospects of the company. I'll leave an email address for you tonight if you are interested and we can work from there.
Close to 3% of Votes in company are now done and hopefully it will send a small message to management even though I doubt that anything will change this year within the BOD. KCSA strategic communications(IR Firm) needs to get fired and hopefully they will discuss this at the meeting. Business seems to be doing great and new home goods client appears to be Michaels(a great top notch chain) and should add some meaningfull $$$ to the bottom line. They are also a client of DWRE. It is all about coverage and selling the story and if they have no interest in doing that then they have to sell the company. Have a great day all!!!
let's just say your 3% can become closer to 5% without a problem.
you are correct about the outside IR firm. My guess is they are more of a communications form than a firm to garner more research coverage. It is inexcusable for this company to sit at a market cap of $35MM.
What makes you think it is Michaels? They went to DWRE in 2010.
Still waiting on Kraft, I mean the major CPG company to be announced!
How do you win the fight?
Management does not care. They own no stock, control the board and not one of the big shareholders seems to care.
A hostile cash offer is the only thing that will work and that is not happening soon, or hopefully it is.
Why Demandware is not making an offer with their stock is something I cannot understand.
The only one I trust there is Willougby but he is apparently an outsider who wants to keep his job.
So as far as I am concerned you are all back to square one and I do not see any squares to move to......