Agree. If the goal of the letter is to get signatures, starting off with "great news" and then leading to "you get $0" does not seem to be the most convincing n

Agree. If the goal of the letter is to get signatures, starting off with "great news" and then leading to "you get $0" does not seem to be the most convincing nor effective way to phrase a signature request. Well, if the reader is an employee holding Common stock, and the employee signs just to keep her job, then she would have signed regardless of what the letter said anyways. Basically, it's hard for me to see a Common stock holder reading the letter, and then going "Ya that makes sense, I'd buy this. Let me sign it now."