Wait, so basically you are saying you would dilute the company into less than 50% of a new entity that issues shares to new investors OVER diluting the company to retain more than 50% but include old shareholders, because somehow you think the former is more assured financially than the latter, and the former is a better outcome, right?
I thought your goal here was to remove the governance issues and preserve existing shareholder capital through more fiscally responsible strategies? How does your proposal provide any of those? All it does is destroys existing shareholders while allowing new shareholders to benefit from any growth in the company.
None of what you say makes any sense, if your premise is that the business can succeed then you are offering a way for the board to enjoy the spoils with new investors but not the existing register. That is far more objectionable to me than anything the board has done to date to try and keep project development going.
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