chitown wrote:
I think DW made it clear that KP owns preferred shares, they are a VC firm and don't meddle in common stock. Zenn owns common (and preferred I assume?). DW isnt selling more preferred.... and from the interview, it seemed like there might have been some tension between eestor and KP, when DW says "they stay friends"...to me that sounds like KP might have wanted more authority, whether over management or other decision making... again Im prob reading too much into this but here is the transcript... "Ummm, they ... We really stopped being a VC company probably about 2 ... 2 1/2 years ago. When we took the first investment with ZENN Capital there that was common stock. And VCs just don't work in common stock. They're invested ... they have to guarantee preferential treatment. Since that went through we've got money through other sources right now. And more money is coming from those sources, non-diluting sources, so they admit it. That we're just not a VC company anymore. But we stay friends. Hey, they own stock in us and they'll get the great rewards because of it."
Examples were provided recently where KP DID invest in common stock. Maybe they do it only rarely, but I think it has been proven incorrect that they don't do it at all.
LMS - 5.32853173672 (A True Skeptic (TM) is objective)
TBS - 10.0
Elevated from y_po idiot to moron, 11/8/09, 8:35 CST
