In my opinion there's only one way out for Pickens and his fellow shareholders, sell the ASO sub. This way we might get a dollar twenty five for our stocks. If not, this is going to be hammered untill this case with his former CFO is settled. Whatever the outcome, Pickens will be pictured as a selfish thief with only one thing on his mind, me, me and me. Investors lost confidence with him and he will be out doing nothing shortly, exept playing playboy with his stolen millions.
Pickens has put what looks like all his liquid money into buying those extra 1.7m ASTC shares no doubt to keep his job here. If he loses his job here he will have to go back and work for his dad, Boone, in some capacity. They are on better terms these days now united against the other brother, Michael. I have no real issue with the CEO here apart from his dubious subsidiary accounting and his inability and/or unwillingness to properly promote this company and stock and report its progress with more clarity and detail. It is absurd that I know more about what this company is doing both in the core company and subsidiaries by going to official government websites than by official company PRs !!!
Inaccurate post with a lot of false assumptions. Firstly he did steal ANY money personally from this company. The money all went into the subsidiaries 1stDetect and Astrogenetix. That money just needs to be retrospectively properly accounted for, either as loans or equity. This is what the lawsuit specifically calls for, 'equitable relief' which is a fancy way of saying cease and desist and just fix the damn problem ! The reporting on this lawsuit has been sensationalist and tabloid like but fundamentally this is what the lawsuit is calling for. Pickens is actually a bigger shareholder of Astrotech than the subsidiaries and it would benefit him to comply with this lawsuit as it would guard against a future 3rd party investment taking an unnecessarily larger share of the subsidiaries then their actual monetary investment deserves, e.g. State of Texas, which is what made me bring up the issue with Porter in the first place a couple of years ago.