"It is likely the CEO just quit in disgust because he saw through all the lies and deception, procrastination, all the past mismanagement and the atrociously extreme conflicts of interests with Theracour and Anil. Short of canceling the terms of previous onerous Theracour agreements altogether, there is no real way for any CEO of NNVC to call the shots rather than Theracour (Anil) calling them entirely. Then being snubbed by being denied a Board seat by Diwan's vote, and dealing with a Board that appears to just give in to Diwan each and every time rather than safeguard shareholders' interests, he probably saw no path forward for himself as CEO to advance NNVC's programs as he saw fit, or see to NNVC's interests rather than those of Theracour's. Anil's total power grab aided by the "yes, anything you want, Anil" actions of the "independent" Board, and Milton Boniuk's voting against him didn't help him either. His legs were cut off from under him before he even began to march. So in the end Traporewela probably didn't want to remain entrenched, just to become merely Anil's convenient powerless toady scapegoat fall guy to be blamed for NNVC's ultimate and inevitable failure or demise. The handwriting is now on the wall for NNVC, and it looks like a bad untidy, scrambled scrawl. Anil and the Board he has wrapped around his finger now control its destiny. Hopefully they will make something work out of the entirely chaotic,conflicted mess. Close to $90 million of stockholder money spent to date, to massage and appease and give in to a single ego's demands. Wow " Colavita365
Anil,
First a correction to the above screed: Gene told me that Milton voted all his shares "FOR" Irach.
Now to comment on the author's key sentences: "Anil and the BOD he has wrapped around his finger now control its (Nano's) destiny. Hopefully they will make something work out of the entire chaotic, conflicted mess".
The key moment in this ongoing saga is very near: when you finally realize that your BOD will not acquiesce in voting to repurchase the Shingles drug from TheraCour. With that knowledge in hand, you are stripped of all your power to control your future, which will be further exacerbated when either the SEC or Milton sues you for your 2005 fraud and gross mismanagement in 2017-2018.
It doesn't have to happen: YOU SHOULD, IN THE PRIVACY OF THE BOARDROOM, ADMIT YOUR GUILT AND PROPOSE THE MERGER OF THERACOUR INTO NNVC TO CLEAN UP YOUR LEGAL LIABILITY. I WOULD ALSO STRONGLY SUGGEST YOU INVITE MILTON AND GENE TO THAT NEGOTIATION AS NON-VOTING ATTENDEES AND LISTEN TO THEIR INPUT.
This is a world-class technology that will easily provide huge long term profits if properly managed, which in your case means returning to the lab, allowing more qualified management to run the show.
I understand that the other finalist for the CEO job is still available and would make a fine President. Offer Jim Saperstein the CEO position, and give Milton the right to fill the vacant "independent" Board seat with whoever he chooses, perhaps Vivien.
LISTEN TO ME FOR ONCE, AND RESIGN ALL MANAGEMENT RESPONSIBILITY IN THE "NEW NNVC".
Dave Morse |
