"Far from being dishonest or merely self-intereste
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During the time when it counted, when money was still flowing into the company from investors, Mr. Bordynuik also gave himself those super-voting preferred shares to ensure common shareholders wouldn't get any effective vote in their company. Then in 2012 he promised to seat a board of directors and relinquish the preferred shares so he could get more financing.
I don't see your logic that shows that Mr. Bordynuik isn't dishonest or self-interested. He seems extremely interested in cash but never was interested in common shares--and as you can see, the common shares shrank considerably in value.