I agree on all accounts and think the deal with Paul is largely a buyout with a big potential upside for the Company with lots of Cash at stake to the tune of at least 1.5 Million Dollars more than they have now after expenses and maybe more!
With no more than 4 Months if he can't deliver or delivers one penny less than the the actual $ 2,000,000 outlined. The costs outlined are actually really nominal costs for these kinds of services as he would be focusing on raising money and development type stuff purely as an extension managed by the Board by the sounds of it. And either way they can accept what he has to offer as a Consultant or not and the provision and discretion is up to the Board.
Not a bad deal overall for the company with a nice boost of some big money at stake but I can understand why we all would have serious doubt to value but it really is a very limited engagement with a big upside potential and limited risk as well as end of life term to it.
We can all agree that something fell off tracks and who's fault it is in my opinion hard to say as IMO, some of it was historical, some there were all sorts of Financial people including Accountants and CFO type's, other smart people in the company who been successful with other company's, but as CEO he had the prime responsibility to either take care of it and or have someone take care of it and it definitely did not get done, hence why we are where we are today but hopefully better things ahead as some this gets straightened out and a change at the top is good place to start to get things moving in a new direction and in order to move ahead.
Lets all hope things get moving in any case.
Go ProElite!
Peace,
CB
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