If Heddle truly thought the technology was far further along than it was, then he would have had to believe the Bordynuik was telling him the truth. That's what I find completely perplexing. Vanishing JV's and raising money on claims of $10/bbl oil aside, it means Heddle would have had to think that the SEC allegations were not a big deal, and didn't speak to Bordynuik's honesty.

But then the OSC investigation had to have been going on well before Heddle took the CEO position. That means he would have dismissed those allegations as well. Now that Bordynuik has admitted to those allegations as being facts, that should leave no doubt in Heddle's mind that Bordynuik is dishonest and willing to break the law if it helps him sell stock. Their decision to abandon the patent application for their processor means the Heddle is aware they don't have anything innovative to sell.

All this means that by now, Heddle must be thoroughly clued in about where the processors are at, and Bordynuik's BS about all matters. Yet, Heddle behaves more as if he wants to help Bordynuik keep a valueless stock-selling scam alive, as opposed fulfilling his legal and ethical responsibilities to shareholders. He's failed on his duties of care, loyalty, and disclosure.