"Being ceo of ipas isn't the kind of many people would want, GG took it because there was probably no one else."
Gary Griffiths has been on the board since 2009!
We can't wait 3 or 4 more quarters to see if he has a strategy. They are burning though our cash!
Griffiths and board chair Beletic were the compensation committee until he took over as CEO. He gave himself (or took with the consent of the BOD) 1,000,000 shares of IPASS and a salary in excess of 200K. Additionally, he has added personnel and board members and further diluted the stock by awarding them shares.
It creates a timeline and paints a picture of what this current Board of Directors and their management has done to the company and with a total disregard of shareholder interest. Hopefully they will be held to account.
In my opinion, this is a very good, welcome and long overdue event. The current BOD and their management group have been complacent, apathetic and greedy and have certainly shown a disregard of shareholder interest. This company has been mismanaged.