"unless there was a binding agreement between the parties that he receive the 130mil shares for 8.5 cents."
Who made that agreement?
It cannot be the three other directors, since they refused to place shares with PN. It has to be JH. JH could be fired because of this, acting independently of the Board.
If JH is in bed with PN, then he will be spilling all the Board secrets to PN, hence his removal from the Board as well.
If CB pushes JH back into the Board, he will be doing PN/CP a huge favor.
Ann: Request for Trading Halt , page-48
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