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Link Motion Inc. (LKM): The Board Not Functioning, A Proxy War Going On

|Includes: Link Motion Inc. (LKM)

Summary

Recent breakout of the personal affair between two co-founders of LKM adversely affects decision-making process at the company board of directors.

See no light at the end of tunnel for filing of 2017 20F.

A proxy war is going on. Shareholders are encouraged to join the proxy war.

Early last month, the personal affair between two co-founders:Vicent Shi and Henry Lin, finally broke out. The story is way beyond anyone’s wildest imagination. Usually personal affairs shall not affect much on public shareholders. However, for this particular case, the decision-making process at the company’s board of directors has been significantly adversely affected, to the level close to completely not functioning at all.

As part of the drama, Link Motion has to restate some numbers in the 20F of 2017 and the extended due date for the 20F is Nov 15th. Based on currently situation happening in the company’s board of directors, we don’t see much hope that the 20F can be filed before the due date.

Some existing major shareholders already started a proxy war and shareholders are encouraged to learn more about this proxy war at www.lkmforward.com and/or sending email to lkmforward@gmail.com.

This blog post is only for the purpose of FYI. I might write an article with in-depth analysis of the situation later.

Disclosure: I am/we are long LKM.

Additional disclosure: Please note, I'm not the owner of www.lkmforward.com nor lkmforward@gmail.com. They are created and maintained by some other existing shareholders.