The real question is, who "asked" Neil to be president and why.
The why, considering is lack of experience with digital publishing AND the fact that he already had a new full time sales job for another company.
Perhaps the masterplan all along was to ensure it Pixelmags was NEVER successful.
Just because investors lose, does NOT mean team Adam loses. Looking at the publicly available information on team Adam's past business wheelings and dealings, running a profitable company(once acquired) does NOT appear at all part of the plan.
Keep hope alive! The pump never dies! Even after delisting!