Activist Shareholder Posed 10 Simple Questions That Go Unanswered.
GREAT BARRINGTON, MA, USA, July 2, 2020 /EINPresswire.com/ —
Dear Fellow Tapinator, Inc. Shareholder, (symbol TAPM)
On Monday June 29, 2020, I sent a list of simple questions to the Board of Directors of our company, Tapinator, Inc.
As you will see, none of these questions would be difficult to answer. I gave them 48 hours to respond and if they needed more time, I suggested they should ask for more time and I would have been more than happy to grant it.
Suffice to say that they have not responded to these simple questions which leads me to the on-going questions of
WHAT ARE THEY HIDING?
WHAT ARE THEY AFRAID OF?
I thought you might want to see the questions.
FIRST REQUEST OF QUESTIONS TO TAPINATOR, INC. FROM DAVID UNGER
1) How many games have been globally released and on which platforms in 2017, 2018, 2019 and so far in 2020? Names of games globally released in 2019 and 2020?
2) Has any one of these games generate more than 5% of the company’s revenue?
3) How many games are currently in test mode? Names? Castle Builder?
4) How many games are on the Android platform and how much revenue is generated from them?
5) How much EBITDA has the company generated in 2017, 2018, 2019, and year to date 2020? I realize that this will have to be updated when the second quarter numbers are released.
6) How much has TOTAL COMPENSATION INCLUDING STOCK GRANTS for Andy and Ilya been in 2017, 2018, 2019 and year to date 2020? Please break-down the amounts into Salary, Bonus, Stock Grants and other (health benefits etc). These figures should tie into their W-2. Please note that I am NOT asking for copies of the W-2.
7) How much were the auditors/accountants paid in 2017, 2018, 2019? (approximate)
8) How much do you anticipate the auditors/accountants will be paid in 2020? (approximate)
9) In the Form 15 filing, the company said that it will save $200,000? What are the categories of material expenses that the company incurred prior to this filing that it will no longer incur and approximately how much are each of these categories of savings?
10) Are the individual Board members anticipating disclosing all future purchases and sales of Tapinator stock?
Prior questions that remains unanswered
Explanation of why minutes were not approved at Board meetings and legal ramifications thereof.
How come there were only two Board meetings in 2018?
Fellow Shareholder, you should understand that these questions were formulated after a detailed analysis of the Minutes and Exhibits that the Company finally supplied to me after more than 6 months of battling to withhold. You should understand that I have more than 40 years of experience of investing in media and telecom companies.
Many of you have been kind and reached out to share your frustrations with the management of this company. I share those frustrations and I appreciate those shout outs. If any of you have any questions or concerns over any of these questions, feel free to reach out to me. I will continue to let you know how things progress with my plight to find out more about our Company and the management thereof.
David W. Unger
Shareholder of 21,875 shares of Tapinator, Inc.
New Hope Capital
email us here
Source: EIN Presswire