MH: While I agree that FF
was placed at the helm of EDIG to be Woody's puppet, Woody can not own 5% or more of the outstanding stock without public disclosure. However, when you consider the FOWs who have traditionally provided financing to EDIG/NCII (Polis, Barnes, etc.) and the stock they buy and sell (or sell and buy as it may be), there is a powerful voting block there. And Falk, Woody's protege, is the man for the job.
IMO, there doesn't appear to be a real intent to make e.Digital a profitable business. It's been very profitable for insiders and financiers as a shaky OTCBB company that trades on rumor, innuendo and well-timed press releases.
The Board of Directors has a fiduciary duty to oversee self-interested management to protect the interest of the shareholders. Since they agreed to give these guys hefty bonuses at a time when the company had no cash, was borrowing money at up to 65% interest and paying its bills with stock, the BOD appears to be happy with mgmt.
Which shareholders are they protecting, the FOWs or the individual investors?
Because individual investors have not banded together to demand that management be transparent and accountable or replaced, mgmt continues to run the company into the ground while placating investors with "expectations" of good things "soon."
It's too bad that some shareholders are afraid that proactively addressing managment's incompetence and history of setting expectations that never materialize is bad for their investment. Perhaps these are the people who think that message board hype is what makes a good investment.
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