I listened to most of this today and it was interesting.
One thing that annoyed me about the Gold side is they were trying to imply that you better vote or you’re voting for the company which isn’t true. There are two “proxies” which are just post cards being sent out, one is a “white” proxy which is sent out by the current board, one is the “gold” proxy set up by Mike Cagney and “the dissenting shareholders” that put these two guys in charge that will essentially try to convince the board to repopulate itself to the original 8 seats and then convince rest of the board to sell on Figure Markets.
Well if you don’t vote, you don’t vote. They need 50% of the votes plus one share to win.
They know no one supports the board (no one supports the company period) and are hoping to get people to vote for their candidates, which won’t guarantee a change of anything.
Also notable was their agreement that the company was only worth the bitcoin balance on the sheet, and the $20/share was based on a $750k value.
There were other things I did not like about the “gold” group. Michael Abbatte (spelling?) suggested a possible bitcoin dividend. Simon Dixon made it clear he thought this was a terrible idea and they agreed if it ever did happen it would be a one time event. I agree with Simon and think Abbatte is aware this would never happen, but would absolutely seed confusion and get some people to vote for the gold side.
I’m going to sign up and not vote. I didn’t like how they were confusing people by saying “if you sign up for the white proxy (essentially vote for the company) but do not vote the company can vote for you.
Simon Dixon did not make a recommendation, to his credit.
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