Another consideration is that QMC was short on funds when Sri left per the books.
Squires May have had limited options on financing in a short period time. He may have needed to get this funding and didn’t have any other better choices at that time.
Yes, he signed it, therefore the agreement is his responsibility, but the conditions that led to the coffers being nearly dry in December while Sri had been running the ship over 6 months, may have given Squires little time to find financing.
Knowing money was running out, what did Sri do to secure financing? Apparently either try to get L2 and SBI engaged or nothing at all.
The only thing I saw Sri do was try to take control of the company with preferred shares for a potential sale or some other preferred shared controlled decision.
Don't get me wrong, I think Sri probably helped make a lot of connections for QMC and to push them forward in that arena, but I can't say he was looking out for the best interest of the long term shareholder. A sale would have given us all solid returns, but not nearly as much in the case where QMC becomes commercially successful.
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