What about Tom Riga? Part II

Quote

anonymous

Guest
I'm having trouble locating this thread...

So I'd like to repeat the question about Raj's equity positions (either directly or indirectly through family/friends) and the possibility of another activist investor action that would eventually change Raj's oversight of SPPI.

Any insights on how much equity Raj is controlling? My take is that it is less than 10%. I'm basing this on the letter sent out last year by Armistice Capital.

If this is so, then wouldn't it make sense to contact the institutional investors that hold the majority of equity and inform them about the dysfunction in this organization?
 






From what I can gather Raj used to have a little over 10% of the company not too many years ago, but it appears through searching SEC records that he now has around 5%. Even with friend and family having equity I doubt much this brings the total equity up more than 1-2% over what Raj has. I can't imagine the friends/family equity stake ever rising again due to all of the dilution. It's interesting to note that some of the institutional investors now control around 10%. I can't understand why these investors are not nominating new board members and slowly changing the board.

In any case, Raj is going to ride this train a few more years. If Pozi, Rolontis or Qapzola hits big that's when he'll exit. If not, be ready to watch him ride it to the grave.
 






I looked into this a bit further and it may have to do with the timing of the shareholders meeting and what goes into the agenda based on the corporate by-laws. There is a very narrow window of opportunity (between 120 and 90 days before the meeting) for a shareholder to put an item on the agenda. Interestingly enough, this narrow window may be opening soon. In other words, even if one owns only 1 share of SPPI, they can put an agenda item to discuss leadership positions. If nobody does within the narrow window then Raj is safe for another year....I think this little known technical detail is what saved his a...s last time...
 






Yes, that's the case. But these institutions are savvy so they should know when to act. The fact they they are not is what I can't figure out.

anonymous said:
I looked into this a bit further and it may have to do with the timing of the shareholders meeting and what goes into the agenda based on the corporate by-laws. There is a very narrow window of opportunity (between 120 and 90 days before the meeting) for a shareholder to put an item on the agenda. Interestingly enough, this narrow window may be opening soon. In other words, even if one owns only 1 share of SPPI, they can put an agenda item to discuss leadership positions. If nobody does within the narrow window then Raj is safe for another year....I think this little known technical detail is what saved his a...s last time...
Click to expand...
 






How about we check the hypothesis but just buying a few shares and request the agenda of the shareholders meeting contains a vote of confidence to Raj ? If what you say is correct then the stock should skyrocket...!
 












quote: [...For business to be properly brought before an annual
meeting by a stockholder, the stockholder must have given timely notice thereof in writing
to the Secretary of the Corporation. To be timely, a stockholder's notice must be received
no less than ninety (90) days nor more than one hundred twenty (120) days prior to the
first anniversary of the preceding year's annual meeting of stockholders ].

You just send a letter to addressed to The Secretary of the Corporation at their Nevada address (corporate headquarters) indicating that you are a shareholder and you want a vote of confidence to the executive team at the next shareholders meeting.

NOTE: The next meeting is on June 13th so you have to do it tomorrow or on Monday. After that the window is closed .... (again...). You need to FedEx it to make sure it's there by March 13th.
 






anonymous said:
quote: [...For business to be properly brought before an annual
meeting by a stockholder, the stockholder must have given timely notice thereof in writing
to the Secretary of the Corporation. To be timely, a stockholder's notice must be received
no less than ninety (90) days nor more than one hundred twenty (120) days prior to the
first anniversary of the preceding year's annual meeting of stockholders ].

You just send a letter to addressed to The Secretary of the Corporation at their Nevada address (corporate headquarters) indicating that you are a shareholder and you want a vote of confidence to the executive team at the next shareholders meeting.

NOTE: The next meeting is on June 13th so you have to do it tomorrow or on Monday. After that the window is closed .... (again...). You need to FedEx it to make sure it's there by March 13th.
Click to expand...
Can it be anonymous?
 






anonymous said:
Can it be anonymous?
Click to expand...

That is a dumb question. You have to be a valid shareholder, so of course you cannot be anonymous. Grow some cajones and do it. Just remember that their secretary is Avi, so it will end up going in the garbage anyway.

Unless you get institutional buy-in, you will never change a thing. Half the institutions don't have people watching it anyway. It's all autobuy/sell.
 






As long there is proof of the letter being delivered, Avi (or whoever is the Secretary) has no powder to ignore it. This would be in violation of the by-laws and they would be in serious-serious trouble.

There is so much whining on this board, now is the chance to do something about it...!
 
























anonymous said:
That is a dumb question. You have to be a valid shareholder, so of course you cannot be anonymous. Grow some cajones and do it. Just remember that their secretary is Avi, so it will end up going in the garbage anyway.

Unless you get institutional buy-in, you will never change a thing. Half the institutions don't have people watching it anyway. It's all autobuy/sell.
Click to expand...
So you mailed your letter too? You with the big balls?
 






























This is all bullshit. He is not going anywhere. He will never be hired anywhere outside spectrum for more than an OAM position. We already discussed that in past. TR is JTs lapdog and these two know Raj and his Indians are good for nothing and they can't sell drugs to local Americans so they are milking Raj by obeying all of his commands but getting fat paychecks and huge bonuses.

Guys, I am working with Tom with a few feet of a distance and I know all.
 






Top Bottom
Back
Quote