Yes it would be easy. All he has to do is buy a company that has sales revenue (doesn't even need to be profitable), by paying excessive consideration and getting shareholders to chip in with another massive cap raise.
The execs will all get their bonuses then....sales fall and the asset gets written down. Shareholders are poorer, execs are richer.
This playbook is used time and time again at the grubby end of the ASX.
And to counter your point about board rejuvenation: anyone with any sense of morality (or just business sense) would have refused to join this board until Blumenthal resigned. No, this just looks like more self-interested corporate cowboys/girls planning on robbing gullible investors in plain sight.
