1. you could be right about when he joined their board
2. We he joined it was around .05. The stock hit a high of around .14 just after the company got US Govt approval and BL helped oust the CEO and then it was all downhill to .01. So yes, I totally blame the stock price on BL and the board. He was also chair of the comp committee that gave the new CEO the most ridiculous package I've ever seen.
3. BL was definately booted see below. I love the fact that he says they aren't getting sufficient working capital when as part of the board he allowed the replacement CEO to go hog wild and blow through MILLIONS with nothing to show for it. BL and gang totally screwed this company financially and then objected when the Class A shareholders presented crappy terms to keep the place afloat. Trying to keep the company afloat is not the same as trying to protect the interests of common shareholders, something that at times seems apparent at IMSC.
"In light of the financing proposed by Jim Cacioppo and Jeff Arens and the demand requesting my resignation post signing of the Board Consent, I am resigning effective 9 November 2015. I do not desire to hold up the company’s opportunity to acquire more financing for its operations, but, I am not going to sign the Consent form only to immediately resign my position, hence I am submitting it without signing the Consent. I understand the company needs more working capital, but I believe the amount of working capital offered by this financing isn’t sufficient and the terms aren’t favorable to the company, however, it is clearly the only alternative at the present time.
I have enjoyed working with you, the other directors and the executive team and wish you continued success.
Best regards,
Bob"
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