As time moves on and CDY's meaningful commercial events start to stack up, I am wondering where things are headed and where they might end up. I can't help but think CDY may endure the same fate as a previous holding I once had - due to certain similarities between them.
For instance, in the previous Company, we were happy (& felt reassured) that a good amount of the shares (over 75%) were closely held by management and the future business prospects were very, very compelling. The Company ticked box after box and the financials became stronger and stronger....but it was obvious and clear the SP had a noose around its neck ... being artificially held back by silly little trades. The SP was valued at $1.46 and yet it was consistently held within a 23c - 27c range. In that case, one particular Company was steadily accumulating shares under different entities and one didn't have to be a Rhodes Scholar to know where we were headed.
Then, as duly predicted, the inevitable takeover offer finally arrived....for 35c!
If that wasn't incredulous enough, we choked completely when we learned the Board and management team (who were holding 76% ownership between them) were recommending the takeover be accepted! Even though I was No 16 on the S/H list and discussed things with some of the powers that be - it soon became apparent who's best interests were being served....and it wasn't the majority of shareholders (by number - not by value!). I learned my lesson well.
Can the same happen here? You betcha! Will it? Only time will tell...but the longer current events continue...the likelier it will be. I am just hoping the Board's integrity (Maria's in particular) is stronger than my previous Company's Board.
I believe CDY has the potential to be a great business success. If the Company is successful, I hope that we are all allowed to share in that success - not get chewed up and spat out just before we get there.
All only my opinion of course.
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