Jack -
As I understand the situation, Clark was to come on board in June '10 as our CEO. At the last minute, he decided that he would become our COB and brought along GE to be the CEO of the company. He didn't have the time to be full-time with Sansiwre due to his involvement with the Butter whatever deal.
His goal was to develope the technology of the company and then sell off to one of the govt contractor types that would have the expertise of using STS-111 / ARGUS and be able to manufacture thsee at their facilities. A figure of $3-$5 a share was the goal within a 2-3 yr period. Well, we are 2 months short of that 2 year number and we are currently @ .04.
Maybe we are at a time when current N2S2 testing is close to the time when a contract may be granted and a person with some actual industry knowledge is CRITICAL to both securing said contract as well as knowing key players within the business that actually will be beneficial....who knows??
Having 2 bankers leading the company for almost 24 months has not gotten the results that they obvivously had hoped for or we shareholders had envisioned. In my opinion, the timing is correct to make the move to replace Clark. The next thing to watch, again in MY opinion, is will the new CEO be able to have control over what happens. I think we will all agree that GE & BJ have had it their way with little interference or direction from Clark.....and we see where that has gotten us. Pruitt and Helo on the board brings knowledge of the industry and with the goal of having added members this year, maybe they can become a group that will provide industry direction for the future.
Sorry to bring this up, but remember Clark saying that he was not in favor of any type of reverse split..........hope the new chairman has the same thought!
BDay
AI
