As you know, on April 22 nd, I submitted myself as a nominee for election to the Board of Directors at the Company's next annual meeting. It is my sincere desire to avoid a public proxy contest where the Company would unnecessarily spend shareholder capital fending off my bona fide efforts to make Envivio better. I believe shareholders would see this action by the Company as costly and disruptive to the business at a time when management should be entirely focused on keeping costs low in an effort to minimize (preferably eliminate) its cash burn rate.
As I mentioned earlier, I have enjoyed meeting many of you over the past few months and truly believe we can have a dynamic relationship focused on mapping out a plan to take full advantage of the Company's valuable assets - while also protecting its cash balance. I remain hopeful that we will have a productive discussion relating to my nomination notice and that we continue to speak about creative ways to enhance long-term value for us all.
Richard A. KarpContact: Richard A. Karp Dick@TicTran.com(650)396-8156 SOURCE Richard A. Karp