BOD pay, for a Company with such losses and using ATM to dilute shareholders, should be no more than $50k per year, and only in STOCK equity. There should be no cash whatsoever. And if my BOD member sells stock, I would politely remove him/her from my BOD.
IMO, it is also a breach of fiduciary duty for PPHM to expand the Board to 9. Any such expansion is clearly not for the benefit of the Company. It only adds another layer of fees which the Co cannot afford. If the BOD is ineffective, which it is, then the board needs to be REPLACED. The increase in number is only to try to defeat Ronin, which is a PERSONAL agenda, not for the benefit of PPHM and its shareholders. It is only to protect their personal board fees.
I can only hope RONIN, now with a big enough stake to warrant taking the appropriate action, makes this board accountable for its actions.
ALL IMO
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