If the CEO really needed $20M, and really was looking after...

If the CEO really needed $20M, and really was looking after shareholders interests, he would have done his $20M capital raise to only current shareholders as eligible.

And he would not be awarding 9,000,000 shares to a CFO that couldn't budget and ran out of enough cash, again, (the Chairman's structuring of the CEO package another matter!).

Easy.

With a market cap of $400M it wouldn't have been hard to raise $20M from existing shareholders with free Options. A reward for being shareholders.

The other crappy $20M raise only 7 months prior in Dec should have been done the same way.

Instead of a reward, we got a shafting and non shareholders and shorters got rewarded (again).

Meanwhile they wiped of $100Ms off of our collective equity value and then send out a letter with nonsense explanation of the dilution.

His letter really shows he does not have a good barometer of his shareholders value. This is his primary mandate. I think he forgot this and conflicted it with his own interests.

Sorry I am just so despondent about this Executive and Board performance and their awful and unethical rug pull. Guess what, we get to give them loads of performance shares as a thank you.

Talk about making us eat a $%^& sandwich while they are eating fine dining, and then telling us they are feeding us well.