What next? I do remember the shareholder update that indicated that Duane Spader was trying to sabotage Verity, etc. That is now starting to make sense. And, it was clear that at one point he set up a business down in Georgia to compete directly with Verity, in clear violation of his fiduciary duty to shareholders. It would appear it may be time to ask the SEC to come in and address these issues with Duane Spader.
Of course, unless Spader can establish sufficient and valid consideration for the alleged "debt" which was never reflected in a requisite filing, or in the financial statements, and unless he can establish fair consideration or capital representing the shares he kicked out to himself when he was CEO before, then he will be facing serious legal issues, IMO.
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