Where to for SP by Christmas?, page-201

Husseller, what was the Board doing over the past 6 months or so?

The directors, particularly the independent directors, are there to look after the interests of all shareholders and they are paid well to carry out this objective.
They are charged with maintaining good governance which of course includes maintaining accuracy of all announcements to shareholders and the market. The last two 4C notices have been, to put it politely, somewhat lacking in financial clarity to the extent they were quite misleading.
Then all of a sudden last week we were advised that the number of paying clients was about half the number that had been projected and revenue per client was anticipated to be way below projections.
Were the independent directors asleep at the wheel or did they just not understand the ambiguity of the information being provided?
The directors undoubtedly would have been receiving timely updates via their monthly board papers, surely that would be sufficient to start them asking some serious questions?

I do hope all executives concerned can learn a lesson from this debacle and now can forge ahead and make something of Reffind.

regards, EB