On September 18, 2013 Michael Lee sold over 1.2 million shares despite having material non-public information. This was allowed (even required), the filing claimed, because of a prior lending agreement. Could not Mr. Lee have made good the shortfall via a cash payment from his other assets? This loan agreement allowed Mr. Lee to, in effect, profit from his inside information by choosing to sell the shares rather than put up cash. If the TWGP board wants me to vote for the sale they MUST include a disgorging of this profit. Based on the $3.00 takeover price Mr. Lee saved over $8.9 million. This equates to over 0.16 per share. I suggest the buyout be modified to $3.00 + 0.16 per share from Mr. Lee.
The company has a history of unprofitable investments. They took a loss on the sale you mention. More recently they took a loss on their Portables investment. Putting more cash in the hands of this company will likely lead to more future losses. This stock is a long slow grind down due to poor management. Their investor communications are awful. Best to buy after stock gets hit after bad news as a pump and dump is sure to follow. Sell when price approaches cash per share.