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Hartman Group Urges Silver Star (SVSP) Shareholders to Reconsider Votes, Citing NAV Collapse, Governance Violations, and Costly Legal Battles

by Snowball Research Team

Summary

On August 4, 2025, Al Hartman invited select Silver Star shareholders—those who had not voted or had voted in favor of management—to a private call on August 7 to discuss concerns about the company. He outlined issues including a 70% NAV collapse while executives received large awards, allegedly illegal stock splits/poison pills, some shareholders not receiving shares from a recent 3:1 split, a 19% interest loan used to buy low-yield mini-storage properties, and nearly $15 million spent on legal fees, much of it to fight a shareholder meeting. Hartman accused the board of multiple legal and SEC violations and urged shareholders to reconsider their stance, framing himself as aligned with investors against a self-serving board.

Dear Shareholder,

I want to invite you to an intimate conversation with me, the former CEO, to discuss information regarding Silver Star that you may not be aware of. The call will be at 3PM CST on Thursday, August 7th. Only investors who have not voted or have voted in favor of Silver Star are invited to this call.

Issues to be discussed are as follows:

  1. How the NAV collapsed 70% while executives received massive cash and stock awards.
  2. How the two stock splits or poison pills are illegal and have never been done in the history of corporate America except for 1 time.
  3. How some people are not getting credit for the extra shares on the recent 3:1 stock split. Haddock is calling those who did not get the extra stock part of the “Hartman Group”, and they should not expect to receive the extra stock. This is personally benefiting Haddock as he gets more value for the 3 million shares of stock that have been issued to him.
  4. How the board paid 19% interest on a loan so they could buy mini-storage properties paying 3-4%.
  5. How the board spent close to $15 million of your money in legal fees, much of went to fight a shareholder meeting, and how they are breaking the law many ways and incurring SEC violations many ways yet think they can operate without any consequences.

I know that you have not voted or have voted against us, but these stunning revelations may allow you to reconsider your position. Please join me for this open conversation with the founder of the company who is 100% aligned with you. Why support someone who is opposed to you and taking as much as he can out of the company before being removed.

Details:

📅

Thursday, August 7, 2025

⏰ 3:00 PM CST

📍 Zoom Link: [Join Here]

(Meeting ID: 815 0585 2676 | Passcode: 900438)

Looking forward to having a great conversation! God bless you!

Best regards,

Al Hartman

The Hartman Shareholder Alliance

Source:

https://www.sec.gov/Archives/edgar/data/831616/000110465925076165/tm2523113d1_dfan14a.htm

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