All the votes are not in. The company may know a week or a few days before the Shareholder's Meeting. I know more people voting NO but will have to wait for the results until March 28th. Maybe we will have a new management team at that point?
Notice NOBODY is talking abut to cure cancer,diabetes,having new achievements,goals etc( not like 3 years ago).Sure sign the company is dead,shareholders in total apathy.Even more:"strangely " many ,most of the shareholders wish to see Chapter 11,just to see he previous management to go,to have a fresh start (except the reatard rrtaxes,but he does not count)
Remember that it does not matter the percentage of people voting yes or no. The legal requirement is that more than 50% of all shares issued and outstanding vote yes so anybody not voting has, effectively, voted no. Brokers cannot vote shares in "street name"; the actual beneficial owner has to see the proxy and vote it. Management can usually convince most people voting than a yes is in their best interest but in an overly pumped stock it is often very difficult to even find the numerous small holders who don't bother voting. The guys that bought the large blocks don't hold very long so who knows where those big blocks have gone.
The normal remedy is to hire a proxy solicitation firm to bang the phones until they have accumulated enough yes votes (that is what happened last time) but those proxy solicitors do not work for free and this time around GNBT does not have the cash to hire one. It will be an interesting drama to watch.
"proxy solicitation firm to bang the phones until they have accumulated enough yes votes (that is what happened last time)"
I was sure the last time "yes' was fake ,a fraud.I'm sure this time will not be different!Just see all these deleted messages etc...for some even a very stupid post is important..so what to expect really?
Two times we voted "no"..third time was "yes" probably because of the promised free stuff.Now no such thing anymore,should be "no" again.BUT most investors with right mind left,i guess, and since Joe walked down the price,there is a chance he let his friends to buy at fire sale price..to get votes they way they want.And that can be "no" too,of course..since they don't push the price,they don't have fake news etc.So maybe they want "no",we want "no"..little chance,but possible
I have been in this stock for a little over 4 years now. Back in 2009? 2010 don't quote me but I was of the understanding that you had to have been a share holder prior to I believe September 2010 of that year. Any stock bought or sold after that date would not be considered votable shares. You would have to have held the same or sold, but any shares bought after that date did not qualify? does that make sense.
I did vote today and NO was my answer. This company needs new direction, and Fletcher is not thier guy. I also voted a NO on approving more shares. Enough is enough.