Toy gone, at long last. Way, way, way overdue. What does that do to Japan/Softbank? AND where oh where is Hong Lu? Not mentioned in the announcement. Is he still on the BoD? So, are the clearing out the old board because they blew it big time, or because someone wants a free hand to rock and roll with no oversight? All that cash, cash that was confirmed not by an external source, but by the audit committee by the way. Stay tuned. Let's see if they clam up even more, or start working for the shareholders best interests. Friday before the long weekend, what else is new?
This is a good news itself, but came too late to do any meaningful to this company. Toy should be kicked out of the company 6 years before he made the company unrepairable. If this company has any chance in China, it got to be something out of its current business lines.
CT just announced its latest winner list of IPTV box, everyone on it except of UTSI, no need to say that UTSI's IPTV business is finally coming to a dead, as I predicted some 4 years ago.
A true sad story how a company can be so bad managed for so long.