The answer to your question is two part.
One, you have to understand the L.A./entertainment world mentality. Although this business has nothing to do with La La Land, try telling that to Parsi. People who like it there thrive in the wannabe land of make believe. It's a false reality where in any direction you are no more than 25 feet away from someone who wants to be a star. Parsi is obsessed with the celebrities. He wants in that world so bad he can taste it. But he has no talent to get him there so leaching off of the celebrities who come to GIGL is all he's got.
He reminds me of many of the scummy wannabe producer/directors I met at various events around town. They were so obvious.
Two, what else has he got right now? From the sound of his resume, he can't go back to the "finance" world he was forced to leave from. Now, he just has to keep the "GIGL hope balloon" in the air from fluff PR to fluff PR to keep his obscene salary coming in and keep people hanging on the "but it's a great concept" dream.
If he could make the stock price go up, he would.
But he can't.
If he cared about the company, he would get an experienced CEO to turn the company around. He cares about his salary. All I will say is read the offering very carefully. You'll figure it out.
Stock manipulation according to the SEC. "Making false or misleading statements about a company."
