Shareholder meeting postponed

I think it best to postpone the shareholder meeting (this is a meeting of concerned shareholders, not the bank’s meeting) until we can get a better grip on what is happening with the bank. We were waiting for the 10-k to set a date.

If you have signed up for the meeting, you will receive an email update when a date is set.

If you have not signed up, you can still do so. Click here, and follow the procedure.

2 comments on “Shareholder meeting postponed

  1. There isn’t going to be a shareholders meeting. Don’t you people get it? The bank wont survive long enough to have one. Duh….

  2. 1. In the note on its failure to file the 10k, it noted that it is undercapitalized. I bailed. With a $46 million loss for the year, there isn’t much equity in the bank.
    2. The bank can be taken over at any time. And your stock will have become worthless. At best, the stock will bounce around as a penny stock until that happens
    3. Perhaps then ill buy my original shares back for a fraction of what they’re trading at now

    I’m out. I’ve seen this happen too many times before. That market press release saying $4.3 mil net income, conveniently forgetting the loss provision, was a blatant misrepresentation. The provision is a required covering of future expected losses, isn’t it? It’s not an optional allocation of funds as it is in every 10k and quarterly report.

    If management lies, get out. I have no patience for that sort of behaviour.

Comments are closed.