PLC Systems Inc. (OTCBB: PLCSF), a company focused on innovative medical device technologies, today announced that its Chief Financial Officer, James G. Thomasch, will leave the company effective May 2, 2011, to become Chief Executive Officer at Clinquest, Inc., a privately-held company. PLC's Controller, Karen Raus, will fulfill the financial reporting duties previously handled by Mr. Thomasch upon his departure. Ms. Raus has served as PLC's Corporate Controller since August 1996 and is a certified public accountant.
Short notice (May 2.) Makes you wonder. Raus will assume "the reporting duties" of Thomash. Were there other duties that need to be assumed? If not, company will save a few dollars with T's departure. 'Course it's always possible that he's just desserting a sinking ship. Hope that's not the case. However, would like to have heard about trial dates, supplementary funding, etc., by now.
Ususally, it's regarded as bad news when a CFO resigns for ANY reason. PLC is so deep in a pit that I think this is going to be regarded as a positive development--evidence that at least some members of management are sharp enough to get a job elsewhere.
One less salary to pay until they replace him. PLC doesn't even need a CFO. No money, no revenue. Tney had to get Nataxis in just to get a loan. What does he do all day, other than keep Mark company? I wonder if the replacement will be affiliated with our new investors?