We are going to have to agree to disagree. In my opinion, the resignations don't matter.
The CFO of a public company is not usually on the board. I'd be worried if he resigned from the board and as CFO.
And Trapp has no industry experience. His experience is in hospitality & tourism, finance, real estate, mining, software and consumer goods.
They were placeholders. As you point out, they weren't even voting on things because they recused themselves.
If they are serious about uplisting (which the documents seem to suggest that they are), they need independent directors with industry experience. We shall see who replaces them.
SeD can also do this on their own if CHF so desires. On March 22, the shareholders of SeD approved the issuance of warrants to CHF. Any time he wants, he can exercise them and fund the company to the tune of over $63M.
It remains to be seen if he will do so.
The CFO of a public company is not usually on the board. I'd be worried if he resigned from the board and as CFO.
And Trapp has no industry experience. His experience is in hospitality & tourism, finance, real estate, mining, software and consumer goods.
They were placeholders. As you point out, they weren't even voting on things because they recused themselves.
If they are serious about uplisting (which the documents seem to suggest that they are), they need independent directors with industry experience. We shall see who replaces them.
SeD can also do this on their own if CHF so desires. On March 22, the shareholders of SeD approved the issuance of warrants to CHF. Any time he wants, he can exercise them and fund the company to the tune of over $63M.
It remains to be seen if he will do so.
Quote:The resignations are problematic for multiple reasons. It is hard to believe that they didn't know they were walking into a conflict of interest prior to implementation of the LOI. Unless, some thing has changed that made their presence unattainable as BOD. Recall, the new additions to BOD from SeD were recusing themselves from deliberations regarding agreements between SeD and Amarantus. Any mention of Amarantus is deleted from SeD web site. It may be that the nature of their partnership is evolving. SeD, on its own, is not strong enough to execute what is needed for Amarantus to get back on track.
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