Tralfaz brings up some valid points. JR vetted the Cayman Islands deal, & Hastings' job as CFO was to monitor the financial implications of the deal.
Also, I'm not appreciating JR's telling us his CEO-ship is a fresh change, given (1) the company continues to make selective announcements e.g. they should have known about the $10M liability as soon as they signed off on the restructure last year, (2) it took them a number of months, I believe, before it was indicated they were being sued by a supplier (3) they made no public announcement about cancelling the last Conference Call; & (4) Ratigan told them he was resigning on 21 March and we dont hear about it until yesterday.
I can appreciate mistakes being made given they have been under constant and enormous pressure since mid-2015.... in fact, I'm amazed they havent lost more executives.... Ian Hansen for example would have no problem getting a job with a competitor...
UNS Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
