strangelooked at the previous announcementsKarantzis had...

strange

looked at the previous announcements

Karantzis had renegotiated the Cornell agreement for $4m two weeks before he left, to the tune of $180k per month

Karantzis (implemented by Wilshire), then got operating costs down to $120k per month - leaving some $60k avail per month ex Cornell.

Zavos was renegotiating Hollywood, and reading his claims in ScreenPrint and other trade magazines - "was extremely confident of doing so"

What went wrong?
Why didnt the directors drawdown Cornell? (notably absent)

Given that Zavos claimed to have no knowledge of the digital/online space (except as a website to sell DVD's), what protection did the current directors put in place to stop Zavos acquiring all the IP that he needs to set up his own?

Seems to me that the current directors have some explaining to do.