Ann: CEO Resignation and Transition Arrangements, page-104

Yep. i can see that too. As you can see having significant skin in the game and being aligned to the SP has not done it any good at all. Check the chart if you don't believe me. I had enough at $1.20.
The guy is delusional. Remember him stating that the market has got it wrong and is disconnected from the company fundamentals.
Again i state it. This is a great company. It just does not have a business model that can make money. Yet.
Until it does it will be crucified. Financially and with management as the pressure builds.

I am not to concerned the CEO is leaving. It seems to be on reasonable terms ATM and i would say it is his call. He now understands the founders are delusional and is existing in good faith IMO before it gets nasty. No good leaving on bad terms. His hands were tied from the start IMO.

CEO's can often jump around every 2-3years to keep them on their toes.
People are selling as they smell insecurity and also IMO more CR's to come in the future if the business model proves to be crap as it seems.

As far as the SP goes the loss of faith here will take some time to rebuild.
Plenty of CR holders out there still to flush out.

IMO if i was competitor company i would buy this out in a heart beat at this level.