Ann: Resignation of Managing Director, page-142

Thanks Goldbear

I think the Kin founders have shown every indication that they know when and how to bring in expertise. I hope it stays that way when the finance expertise is needed.

I think they have also shown a quite astute ability not to let control of the company, or the board (as distinct from management), slip away. They are careful about large shareholders coming onto the register when they raise capital. They have been careful to keep the number of shares issued pretty tight. They have kept buying shares to keep their % up. They fought effectively when marauders tried to take over the board. And they are averse to a board which might be tempted in the future to go for takeover @ $2.40 rather than taking it all the way to $24 like Harmanis did. That is how it was put to me, in any case, not that anyone was predicting Kin will get to $24.

I don't know how relevant this is to the current hiccup (or whatever it turns out to be) - we might find out, or we might not. A motion to remove a director doesn't have to give a reason, and a director can resign without giving a reason. There is only so much we in the cheap seats get to see...