Replies to post #25738 on 22nd Century Group Inc (XXII)

[MinnieM]

That was from Oct 2014 and they were placating him. Since then, they have taken him to court. Not only is he not being considered for any positions with the company, odds are high the shareholders will vote him off the board when his time runs out. He was elected by shareholders and can't be removed by the company.

You'll notice he isn't actively participating in the company since his signature isn't on any recent filings that other board members have signed.

[nymostwanted]

Bids are raising, I would liquidate before you loose everything..

[NKerf]

If you knew anything about how a company works you would understand that was most likely just a comment to save face and that they obviously have no intention of re-hiring Pando.

[groverisproud]

For starters, a move from CEO to CTO is not a promotion. Beyond that, the wording of the release seems to be a clever way on the part of the company to manage damage control while they determined the extent of his bad behavior/decided what next steps they should take.

By keeping Joe on the board, XXII is ensuring that he has to abide by SEC rules regarding insider trading which allows XXII to manage his trading activity. The company is releasing new and relevant information on a regular basis now...Joe can't buy/sell stock at will given that he is still an insider and has had material knowledge of these developments before the rest of us have. Given Joe's renegade and damaging trading history this is a very smart defensive move on the part of the company.

Joe could step down from the board, completely sever his ties with the company, forfeit his "insider" status and sell his shares on the open market. However, he would have to be insane to leave on his own volition because he would be walking away from his potentially lucrative stock options if he did. Joe may lose his stock options if XXII wins their case against him, but it would make no sense for him to walk away from them just to be able to torpedo the price on the open market in an act of retaliation.

[Terpene]

You'll notice their newest addition, Nora, is chief tech officer of the first cancer foundation ever. I'm sure she will play a substantial role in moving forward, ex CEO is cooked no job openings will be left open for him.