Friday, June 26, 2009

Keeping a Casual Eye on ASUR

As I mentioned in a previous post, I closed out my Asure Software (Nasdaq: ASUR) positions at about .25 last week. Today I got a half dozen copies of the hard copy version of this notice from ASUR management, asking shareholders to support the current management in its impending proxy fight with the activist hedge fund Red Oak Partners. My guess is that Red Oak will win this proxy fight, given the current management's track record, poor relationship with shareholders, and the recent defeat of the current management's go-private plan. I am curious to see if Red Oak succeeds in unlocking some shareholder value here. If so, it might be worth considering piggybacking on their next venture in micro cap shareholder activism.