I dont know all the details but would guess the thinking is along these lines....this approx hand full of people are simply unpaid uncompensated advisors to the company so their participation is a non-event meaningless activity simply meant to placate them and keep one’s potential enemies close.
I do think he should file a formal sec doc to cover his backside.
I also truly believe the adv board is a sham and was/is a clever sneaky way for the CEO to control possible shareholder dissent. These guys are all being used and strung along. Several have nothing in their backgrounds that even make them legit advisors.
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