Tuesday, April 19, 2016 9:23:38 AM
As far as Sullivan, you people need to read all of what's out there and not just what GDSI says. I did this a while ago but a quick search brings up three nice paragraphs from the same article. The last one shows how he left with his tail between his legs.
"Retiring Richard J. Sullivan, chairman and CEO of Applied Digital Solutions (Nasdaq: ADSX), is leaving the company on the same day a deal giving the company more time to pay its $95 million debt to IBM Credit was announced, according to the company."
"Applied Digital has a history of massive losses as it bought and sold numerous high tech companies during the last decade. It holds a majority interest in Digital Angel, a firm that has developed an implant chip for animals and people that can track their movements and vital signs."
"Sullivan's golden walk is not as golden as it could have been. He agreed to a $10.6 million severance package, a reduction from the $17 million his contract provided for, and he has to take the payout all in restricted stock, according to the company."
Sullivan is not a genius, he's a throw enough chit against the wall, paid for with other peoples money, and maybe something will stick.
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