Innovative Food Holdings Inc (IVFH)

[Dickmo]

Grease - I think you are correct. He is using this as his, excuse the expression, trump card. If he goes, they could lose their US Foods deal. It wouldn't surprise me if such a threat were made. They are going to have a tough time finding a replacement. This is not going to be an easy turnaround situation and whoever they bring in is going to want a significant income and stock incentive to do the work.
As for the e-commerce side of the business, the company bought into this sales channel without a good understanding of how it works. Not the first time they have done this (see Fresh Diet). Just like Peleton, they may have assumed that pandemic conditions would go on for decades. It didn't and now they have all this debt and another problem division on their hands.
I also agree with you that if Papas and others haven't made a move by now, chances are good they are thinking this isn't worth their effort. First step would be replacing the Board. Maybe I missed it, but it hasn't happened yet to my knowledge. Denver appears to be throwing good money after bad. After that glowing report he wrote on the Fresh Diet acquisition years ago, I'm not counting on his investing acumen to lead the way to a better portfolio.