tz-without a future there is no past

I and my group have observed in the past 8 weeks, since the new board has taken over, the Company has no direction, it has no management, no CEO, and little or no contact with existing or future customers. My groups proposal will involve the co-operation and satisfaction of QVT's outstanding interest and ongoing investment in the company. The longer the current Board continues to keep the shares suspended the more damaging it is to the company.
The board I propose putting forward will be customer related industry specific experts who not only know how the technology works but will also be a party to commercializing the technology.
My group intends to re-capitalize TZ sufficiently to re-pay QVT's interest and provide the additional necessary working capital for the Company to grow without massively diluting the existing shareholders equity.
The reasons for calling a meeting are:
1. In the many telephone conversations that I've had with Mark Bouris he has threatened to put the Company into administration and he has told me that he has no intention of investing any of his own money in this company at all. I find it insulting that someone who has no money investment in the Company and does not plan in investing in the company can control the outcome of my and other shareholders investment.
2 The current business has no direction. Customers are not being engaged and in fact are currently being lost.
3. Mark Bouris in the 8 weeks he has been in charge has not even been to Chicago to meet staff and customers. The current people he has left in charge are former PDT guys who have shown no interest in the past in embracing the TZ technology and in fact have failed to commercialize any TZ products.
4. My group of shareholders along with other shareholders are extremely concerned about Mark Bouris intention not to invest any of his own money in the company as well as his failure to raise any significant capital from other new investors. It was previously stated by the Pool/Chew group that the current board would raise whatever capital was necessary. This has clearly not happened.
5.Whatever has gone on in the past can still be investigated, but without a future there is no past.
6. My group are tired of the negative press which has been circulated by the board. All this does is drive confidence down in the company and the marketplace and seems to be personal and not business related.
7. The previous board will have no involvement whatsoever. My proposal is for an independent American based board with an independent Chairman as well as experienced management, which will bring with it sufficient capital to satisfy QVT's claims and further working capital. It will certainly be a lot more than the paltry 1.4 million raised thus far.
My groups full proposal will be sent to Shareholders after my groups negotiations with QVT.
PS Please don't credit the current board with the Anixter Agreement. I refer you to the Company's announcement on 25th April 2009.
Lindsay Gallagher