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Message: <blockquote data-quote="PHATsakk43" data-source="post: 9667595" data-attributes="member: 7041071">Help?Seriously, like she was a board member, shareholder, and a company officer. She knew what was going on and that Gary was not able to get the Blume's out, because neither he personally, nor the credit of TSR was able to meet the Blume's demands. Even in with the most generous story in Gary's defense (Gary’s account of the closed door offer to the Blumes after they were told they had to leave), the offer that supposedly was made to the Blume's by Gary was that Gary was trying to find a "consortium" of buyers to purchase their shares. Gary personally feared exactly what happened in October, which was a single buyer (other than himself) acquiring their total shares plus options which was more than he controlled. Which is exactly what Lorraine did. She made a cash offer to them, as well as fronting the cash to exercise their latent option of 700 additional shares along with her exercising her own outstanding option of 50 plus the initial shares she received as when she had been brought on in the previous March to offset her cash infusion into the company. The only sort of dubious thing was loaning them the cash to exercise their options. Even then it wasn’t really any different from the demands the Blumes had made as a condition of their severance package, in April and later in August as an effective notice to the company. Again, in one of the only statements we have from Lorraine, she states that she did not inform Gary of what she was doing because she knew that it was just “an invitation for him to get in and just try to screw it up, and to once again try to thwart the ability of the Blumes to sell their stock and to get out and to go about their lives.” Did she inform Gary, no, because she understood that Gary would likely have created more problems, but not actually have been able to do anything regarding the sale except prolong the period, which was untenable given the state of the company's finances. Recall that the Blumes had filed suit against TSR, as they only agreed to step down from the board if TSR purchased their stake in the company, along with the 700-share option as a severance, which the board agreed in April. There was no other way to unwind this whole thing.One way or the other, Gary was going to lose TSR, whether that was to a buyer or the bank was simply the only question.</blockquote>

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