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Astrotech Corp. Message Board

  • hopeful200 hopeful200 Feb 26, 2013 3:25 PM Flag

    One thing you can glean that is good

    The financials are probably clean as a whistle....and that's something I always think about in a case like this action against Pickens The former cfo would be indicting himself if the books have been cooked.....no way he would risk a lawsuit, thereby bringing attention to himself, if the numbers are not viable.

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    • The lawsuit is directed at Pickens self-dealing and breach's of fiduciary duty, not cooking the books. As a shareholder, I really don't care about free rent for free golf or tires for his car....that stuff goes on all the time. What's concerning to me is the fact he funneled money out of Astrotech and into the subsidiaries (that are not wholly owned by Astrotech) with no interest or no collateral. If these subs were 100% owned by ASTC it wouldn't make a difference, but ASTC only owns like 88% of 1st Detect. So whoever owns the other 12% (Pickens?) is getting a free unsecured loan.

      Sentiment: Buy

    • You have to admire Porter's integrity here. He could have said nothing and carried on being the CFO here but he chose to do the right thing. Shareholders have nothing to fear here either way. If there is not a case to answer it will be dismissed and life goes on. If there is then Astrotech's full investment in both 1stDetect and Astrogenetix will be properly recognized and maybe we get Porter back as the new CEO ;-). This issue has to be sorted out once and for all.

 
ASTC
2.40-0.1400(-5.51%)Dec 19 4:00 PMEST

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