LTUS - Cliffvb, thanks for a very good analysis of the situation.
By all indications, Ashley is a non-performer on the board, contributing nearly nothing to LTUS: No distinguished research record, no business insight or knowledge, and no financial background and wall street connections.
I have no problem with Ashley's resignation. I do, however, wish that LTUS management can handle the situation a little better. They should have learned the US way by sending the guy a registered mail to demand his resignation officially, rather than the Chinese way of dropping the hints by neglecting Ashley, wishing he would go away quietly.