So you are saying that both the surrender and reissue were orchestrated by the previous regime?
So my view that JB pulled stock is incorrect, and we still have no proof of undaunted integrity. The S-8 filing could pay management compensation based on current management's decisions, but I suppose they could have obtained the rewards already on the way out.
Which still leaves some uncertainty in the current phase, and of course without proof, I choose to rely on the evidence of current execution. He seems to be good at making the deals, but doing poorly on the paperwork.
Maybe he will note that when it's his turn to issue shares under the S-8? S-8's are filed by most companies as a reward for performance and retention of qualified talent. The fraud usually occurs when neither objective is accomplished.