The company hasn't the funds to operate for a year, the CEO can't raise funds by selling convertable notes as market share price is at a stand still of $0.07 and he's trying to sell for $0.10. It would be obscene to sell options at $0.07 as it would indicate that the company has reached rock bottom with no funding source.
This especially as the share price was at a healthy $1.45 when he made himself CEO, President and Chairman. It's legally unconstitutional for a public company to have 1 person standing in all 3 positions. This would mean that the CEO virtually has highjacked a public company for his own benefits.
The CEO was not voted in by the BOD, he simply filled in the Cecil Bond's position without going through the necessary procedure.
The BP that he put forward was another rouse to buy more time, he didn't execute 1 things from the list that he proposed. He blamed external forces such as the oil industry, oil price etc etc etc.
A great leader takes responsibility for his actions and stands behind them to improve external circumstances standing before him.
All I can see IMO is he is incapable to taking responsibility and will blame his defeat on everything other than himself.
HE MUST RESIGN