Sorry for the late reply.
To answer your question, it could be any of the reasons you specified. We know that it is not the CEO because there is no way that they can be the #1 watch digital channel in Canada and not be on thier job (Remeber,Canada is way different from the US as far as how business is conducted. It is much easier to reach audiences in the U.S than Canada).
As far as the shares go, if you have been playing with the pennies along with doing your DD for more than 3 months (Which I believe you have), you know that this is the nature of the beast. Think about how many companies you have seen out there with great business models, but with billions of shares O/S (For another example, please see USXP). My advice is just look at this for the long term and not the immediate gratification that pennies are supposed to be known for. Patience is the name of the game. R U N?
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