I told him during an extended discussion over coffee while he was still Chair. His background leads him to the philosophy "thou shalt take the money off the table". The same as the convertible note providers who just churn through the conversions for pips to guarantee that they make money.
He argued from consequence that $1Bn USD was enough and responded with a strategy that attempted to lock in that figure as a good outcome.
In my opinion he had a deeply offended expression when I asked him to look within himself to find the answer to how he could both believe the content of the Triangle report and his own $1Bn valuation at the same time, and I told him that his internal issues were destroying value for all shareholders.
Now he can self-perpetuate his low value beliefs by pursuing an exit at any price strategy, and turning down buy out offers from syndicates, when everyone views him as an insider.
Of course, it could be me deluding myself, and only time will tell ... I'm here for the long haul
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