"But why is nobody talking about the royalties?"
Licensing revenue from the MMP is always being discussed, and rightly so as it is the only source of profit we have had. What is also being discussed is the other half of that equation: what happens to that revenue/profit once we have it in our coffers.
This is the area of concern and is the reason for the lenghty discussions of the BoD. Releveant issues/questions include:
a) will the board continue to fritter away those funds, or allow them to be frittered away by executives they hire?
b) was the board approved merger/acquisition of Crossflo and their cdx product worth it, given that we are now trying to reclaim shares in escrow, and cdx is undergoing an independent technical analysis? Did the board not think it wise to do such an analysis in the first place before authorizing shareholder assets for the purchase of the business/product? Is the effort to reclaim the shares indicative of internal board feelings that cdx is 'less than advertised'?
c) will the board continue to authorize the investment of shareholder funds into other businesses that are offering no return on investment?
d) will the board ever employ a modicum of transparency regarding the management strategy of the only profitable asset under their stewardship?
I could go on, but you probably get the point which is, how can the same board controlled by the same person (or people), be trusted to continue handling the owners assets? No answer has been forthcoming from the defenders of the board, unless you count deflection, obfuscation, and piffle as answers.
