The board was silently complicit in this shameful enterprise of relieving shareholders of $275 mil with precisely nothing in return, lying to them at every step, then allowing a sequence of sweetheart deals for a couple of major holders to shake down the remainder of the register until the bones were picked over by a VC group.
IMO the board is merely being tolerated by the VC group to keep the s/h in the tent until the keys have been handed over, the locks changed and they will be out, as they should be. They are a stain on boards and investment and they are the best example to be seen of fish rotting from the head down.
Their job was to protect and represent the interests of SPT shareholders and they did the exact opposite.
SPT Price at posting:
7.5¢ Sentiment: None Disclosure: Not Held
