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Hartman Group Challenges Silver Star Properties (SLVS) Over Illegal Proxy Solicitation and Poison Pill Maneuver

by Snowball Research Team

Summary

On July 8, 2025, the Hartman Group warned shareholders that Silver Star Properties is illegally soliciting proxy votes, despite being barred by the SEC due to unfiled audited financials. Hartman alleges that Silver Star is misleading shareholders over the phone and using those conversations as proxy votes. Shareholders are urged not to engage with Silver Star or Alliance Advisors, avoid using the WHITE proxy card, and vote only using the BLUE proxy supporting Hartman. The letter also criticizes Silver Star’s use of a second poison pill and reassures shareholders that the Hartman team is honoring the resulting share split.

🚨 Silver Star’s Illegal Proxy Solicitation – Here’s What You Need to Know 🚨

Dear Fellow Shareholder,

We want to alert you to a serious issue.

Silver Star Properties is currently prohibited by federal law from soliciting proxy votes. According to the SEC’s June 25, 2025 comment letter, Silver Star has not filed its required audited financial statements. Until they do, they are not legally allowed to solicit your proxy vote.

📄 Read the SEC Letter Here

Despite this, Silver Star’s proxy solicitors are calling shareholders on recorded lines to collect proxy votes under the guise of “we have no record of your vote”.

What You Should Do:

✅ If you receive a call from Silver Star or Alliance Advisors, HANG UP.
✅ Do NOT engage. They may try to use your conversation as a vote.
✅ If you happen to take the call and are confused or feel pressured, simply say:

“I have already voted with the Hartman team. I do not need to vote again.”

✅ If you’ve already voted for the Hartman Shareholder Alliance on the BLUE proxy card or by phone, your vote is secure.

✅ You do NOT need to vote on the WHITE card.

Silver Star has triggered a second “poison pill” — a legal maneuver used to block shareholder action and entrench the incumbents — and has announced a new meeting and record date. As part of this, each shareholder, other than the Acquiring Person (who is blocked from receiving additional shares), will receive two additional shares of common stock, resulting in your owning 3 shares instead of the 1 you held prior to the trigger of the pill.

The Hartman Shareholder Alliance is honoring that split. Your vote on the BLUE card will count for your full share amount.

We’re here to protect your vote — and your investment.

See the attached proxy letter for more details. Click here to read the full letter.

If you have not voted, call us directly at (619) 664-4780 to vote for the return of your capital or vote the blue proxy from our online e-mail.

If you have any questions, contact us at IR@hartman-investments.com.

Thank you for standing with us.

Sincerely,

Al Hartman

The Hartman Shareholder Alliance Team

Source:

https://www.sec.gov/Archives/edgar/data/831616/000110465925066703/tm2520248d1_dfan14a.htm

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