Innovation Pharmaceuticals Inc (IPIX)

[warrenthomas4001]

A-FREAKING-MEN! Lest we forget the many occasions in Biotech where a capricious BOD has voted off the island, the company founder, the CEO, or the chief scientific officer. Directors often carry lofty titles to puff up the corporate resume', but they amount to little more than layers of an onion. They will come to regard the founding officers' idealistic goals as sophomoric and abstract, while the directors' sights become set upon the instant gratification of preposterous salaries, arbitrary Milestone Bonuses and generous options. They will suck down the cash reserves like a 5-horse shop-vac. They'll even fire sale your lab equipment to keep the gravy flowing. The BEST thing any BOD has ever contributed is MORE OVERHEAD, compromised agility and extraneous input. The WORST thing a BOD has ever brought to a company is a zero bid. Not so sure I like the middle ground.