Wells' response makes total sense... he is running the business side of Kool TeleCom, while his attorney, Beatty, et al are handling the SEC filings, PR concerning the LOI/RM, etc.
The good news is, he is actually working on obtaining revenues for the company and not mingling in the stock. As we all know, too many stinky pinkies have CEOs who do nothing but sit and watch the stock all day long, watching for the prime opportunity to dump shares and make some dough since their supposed "product" and or "service" yields them nothing (if the even exist in some cases). :D