What is frightening to me is that Mir/Brennan seem to have pulled the shares out of some very dark place we rarely reach or go into and seem willing to continue doing so just to save their hides.
Whether this is a legal ploy or not may become a court matter which will only drag this out even longer. I suspect that all or most of this 8.6 million share deal is not legal especially since some went to an unnamed consultant, some seems to be at an exercise price that was well below the price when Mir arrived (does he get rewarded for causing share price to drop?), and, of course, that absolutely no money ever crossed the table or entered the Calamare coffers.
They rationalized that they paid off outstanding debts or obligations and someone needs to look at old filings (if they can find any) to verify if any of these obligations even existed. Interestingly enough, other than the CFO (poor guy never got a Director's seat), only two of the Directors (Mir and Brennan)seem to have been recipients of the newly minted shares. Why not the other two?
