Ann: Quarterly Activities and Cashflow Report, page-271

And Alan Armstrong resigned as a director on the 22nd August so he must have stayed around to bring SH up to speed with the role and ensure the company he built was in good hands.

I also note that on the 1st August the cash balance was sitting at $7.618 million and the institutional shareholder who put the money in became a seller only a few months later. Could it be that after Alan left they no longer felt comfortable?

One can only speculate and make assumptions as we will probably never know the truth.

IMO though I would have been surprised if he had still been involved that he would have allowed the cash balance to get this precarious.