If you missed the conference call - here it is:
Denial Conference Call (space call twitter) (March 21, 2023)
I think we knew what was going to happen. But we wanted to get it on the record that we felt the only way to save our investment was to get retail members on the board that could make a change. We could at least get filings out on time and find out what's going on.
But Vinco denied us. Petty things like not showing a "home" address - when it wasn't required in the bylaws.
We withdrew our nominations due to the denial for a couple of reasons. One Lorne withdrew. He didn't want to be stuck in a position where he couldn't sell his shares if the price spiked. And two, we didn't have the capacity legal wise to make a response. Our pro-bono shareholder attorney is not in securities. He did this as a favor and is versed in patents. We just didn't feel we knew how to legal respond to all their technical jargon.
However, our nomination was denied by the company due to petty technicalities which were actually unfounded. Since we as investors did not have the funds, expertise or legal capacity to respond to the denial we were left to accept the status quo.
Ironically the Pre14-a was missing required information and even had "copied and paste" data of another ticker. Somehow a pubco as Vinco can get away with irregularities and omissions - but we as investors who fund them cannot.
You can see all the reasons for denial in the attachment denial letter and hear the Twitter Space call in the links below.