Wednesday, January 23, 2008

Exploratory group to enhance share holder value

Over the last few weeks and since I started this blog, I have been contacting other shareholders in order to gauge sentiment about the company and management's turnaround strategy. While it is too early to evaluate the impact of the turnaround plan, I believe this is the proper time to organize an "exploratory group" to enhance shareholder value and track the progress of the company. Currently, just on the few shareholders I have talked with, we have about 1.2 million shares or 1%. In addition, a large overseas fund manager whom I met at the shareholder meeting disclosed having about 10%. This manager has sent information to support his holdings and I don't have any reason to doubt his position. In any case, with so much at stake and a lot of value left in the company, we would like to invite other shareholders to "join" our group. There are no major committments except to participate and discuss the company's progress.

The first "event" I am planning for the group is a conference call to be held within 2 weeks and prior to the Q4 earnings. As you know, this upcoming earnings call will be critical with respect to the convertible bond and the outlook for 2008. This shareholder conference call will be an opportunity for interaction with other shareholders and for us to draft a document to send to management on items they should address at the shareholder meeting.

I understand that shareholders (retail/institutional) will have different goals and expectations. Some want immediate actions from the company. Some are willing to give the company time to work out this current turnaround. However, we are all currently in the same boat with little good options. It is imperative that the company produces tangible results very quickly and throughout 2008.

Again, I invite all interested shareholders whether you have 1k shares or an institutional holder. If you want a voice, this is your opportunity to be proactive with your investment. You can email me at tim_94305@yahoo.com if interested.