Ann: Changes to the Board, page-10

@Gentle Ben. I'm with you on this. Looks like cost-cutting to me. Alain was highly qualified and deliberately moving CFO away from TAC to increase margins (TAC takes a large commission on all customers they refer). The statement about having CFO move closer to TAC is somewhat counterintuitive, as TAC customers already account for most of it's contract sales... and revenue. It's also odd to not have a CEO in place when you're seeking to build your reputation and sales.

That said, there is some logic to Alain leaving.

Alain had done the heavy lifting on getting the process side of CFOAM's manufacturing sorted. He'd also missed most of his performance shares and was on a comparatively modest salary (given his qualifications). If he wasn't able to secure any significant new contracts in H2 2018 over those arranged by TAC, perhaps he'd lost the support of the board and key holders and wasn't seen as being as great an asset going forward? Also, if CFO still has a significant lead time to substantial new sales, perhaps having Brian Joseph back in at the helm will help. He's got excellent rapport with West Virginia government officials and has been instrumental in securing concessional government loans for CFO from the WV gov (which they may need more of...). It may also be that CFO will put a new CEO in place once they've got themselves sorted out... you don't generally run a successful business with technical folks at the helm. 

The quarterly will give us all a better idea of whether the changes relate to performance, or some other (perhaps personal or personality) issue. I'm a strong believer in the potential of CFOAM, so I'd love to see a turn around in sales and a bit boost to sales... and the SP. GLTAH R-7