The only way Steve can stay is if he does something useful. The only useful thing he could do would be to underwrite a bank loan to allow them to go to Tranche 2. If he wants $200,000 in stock to do it that’s fine.
But he’s not going to do that, and if he does he’ll try and take more than the loan in fees. Maybe he’ll wake up one day and realise he’s good at frying chicken and that doesn’t make him a great businessman.
CZL Price at posting:
0.7¢ Sentiment: Sell Disclosure: Not Held