I've been around long enough to have seen this before.IDG is...

I've been around long enough to have seen this before.

IDG is ripe for the picking, and I am somewhat suspicious as to the reasons that GLI even want to get involved in IDG. Why are they becoming increasingly significant shareholders? What are they after? WHY would they want to replace the board?

It wouldn't be the first time that a shell company (which is what GLI currently is - and will be changing its name in the near future to BlueCap) were to move in on a company as prey, replace the board, strip the assets and sell them off, then wind up the company. The selling of the assets would usually be done via deals that are already in place provisional on the board takeover.

Now I may be completely wrong about GLI's motives, but there are a LOT of questions here, and no answers so far.

I think it could be a very dangerous move for shareholders to spill the current board, if I'm right. We could all be left out in the cold, as we come way down the bottom of the pecking order in any creditors listing if the company were to be wound up.

I do not work for either IDG or GLI, just to set the record straight. I am an independent shareholder, but one who has seen enough asset-stripping before to make me suspicious.