Forgot! You must be buddies with the Malvern crony gang!
If you were just a common stockholder, you'd be thrilled with SAVE. The pressure they brought in the past few years resulted in dramatically improved performance for the company.
They shone a spotlight on the fat salaries, lack of profits, poor governance, conflicts of interest, 99% stock price drop, and repeated dilution. Stephen Herbert has been in the executive suite for 17 long years of (highly-paid) failure. But it was only *AFTER* SAVE showed up that Herbert started doing things like cutting costs, replacing crony board members, etc.
And now comes this SEC filing. SAVE suggests an independent chairman of the board. Seems pretty reasonable. I'm sure Herbert will fight it tooth and nail.
Herbert knows best! He's the only guy in America who has been paid millions to LOSE money for 20 years in a row!
Keep cheering for Herbert, forgot. He may not be a great steward of capital for common shareholders, but he's a great friend to his cronies who pump for him on this board!