Ann: Notice of General Meeting/Proxy Form, page-8

another outside observer here.... Quick question guys. what's Joanna's exit clause state? It seems to be on the cards that Merchants/Shareholders will win the vote and JR will be gone. If she gets gone cheaply you have a shell worth around $5mill, $25 mill or so in the bank and a respected insto invetsigating the next best step. That would suggest good spec value at 16.5c.