Maybe use the following words. --------------- We are a shareholders in VCR.We fully subscribed to the recent canceled SPP and will participate ifanother is offered. We also support the financing plan put forward by Vijay Kakani and Michael Fox. --------------
The plan was:
Our proposal for financing is as follows:
1. Replace the present board of directors except CEO Mr. Peter Crosby 2. Draw down surplus cash from the subsidiaries to keep the operations going for one month 3. New SPP to the limit of A$10,000 per account or to the maximum amount as permitted by ASIC/ASX 4. New Directors taking the minimum salary until the company becomes cash flow positive rest as shares in the company. 5. Employees doing the same. 6. Clearly explaining the number of implants for the past nine months. Breaking down to month wise. 7. Managing the revenue and expenses of the group as a whole, not just the holding company. 8. Price of issue determined by the new directors. 9. Clearly specifying the minimum amount required to make the SPP a success.
If an SPP was raised immediately, then we are reasonably certain that the shareholders will make it a resounding success that will get yourselves very good name in terms of achieving a good outcome for the company.
The presentation yesterday by the Ventrassist cardiology principal investigator, Dr Andrew J Boyle in the American College of Cardiology 2009 Scientific Sessions is all the more reason why shareholders will support an immediate SPP.
VCR Price at posting:
8.3¢ Sentiment: Hold Disclosure: Held
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