aed's fate - in next few weeks?, page-22

jbp: yes it is $39m cash; And for the accounts sake - do not count debt as ASSET ! And look at the history of the last 6-7 yrs :
- negative cash flow year after year
- new CR year after year (100% dilution over 5 yrs)
- hardly any earnings
- avg shareholder return over 5 yrs : minus 18%
- negative ROE most yrs

But my point was more about the way they try to issue more shares - i.e. bypass shareholder approval ! Tell me WHY do they do that ? If there was a good plan for that money then they would have called an EGM and seek shareholders' approval for CR