Well, considering a material number of the bullish posters on here are either direct relatives or close personal associates of the CEO, I would think that some more rational perspectives are required. Perhaps you fall into this category as well @aqua2572?
This is nothing more than a company built on creative financial engineering, with a very dodgy certifier. A CEO who stuffs up again and again and again, who is continually protected by a Chairman who lacks independence. You cannot be Chairman of the same CEO after 8 years (and maybe more) of shocking performance and losses approaching $150 million and consider yourself independent.
A quality company pays its Independent Directors in cash, to ensure they remain just that, independent. A director paid in shares (skin in the game as some like to call it) creates a conflict with their independence and can result in inadequate oversight and encourages risky behaviour. BUD is a perfect example. Sack the CEO and you risk him dumping his shares and deflating the share price. The exact scenario that was likely deliberately engineered when DM turned his worthless company into a multi-million dollar fortune through the dodgy backdoor listing.
The irony here, is that the best chance DM has of getting his riches back is by walking away and letting someone competent take over.
But it's likely too late for that now, because PFG have the keys. BUD defaults, PFG take control and flog LIFX off to cover the debts.
