I would tend to believe that the bulk of the information that Gerald has released especially in regards to time frames for specific events was "rubber stamped" by the B.O.D.

Have you ever played Monopoly where you have the Green set or Red set of properties and just when you have enough cash to start adding houses the opportunity to buy Boardwalk happens so you delay your plans because you can't pass on the opportunity. I think that is what happened with the company is regards to ESS being acquired. I think it was viewed as too good of an opportunity to pass up all things considered.

Smart move by management? I think so.

I think they knew the share price would take a short term hit but decided the potential reward far outweighed the risk and the wrath of the shareholders. It's quite possible that Gerald does know what he is doing contrary to the opinions expressed by the bashers/naysayers all of whom want to buy at a lower share price.