For the shareholders it would be better to have a virtual BOD.

Folks who treasure fe...es will not part with money easily. There goes the myth of innovating in a garage. The landlord is probably still decontaminating it.

Maybe our board believes they own the company?

Looks like the devil mixed in there.

You should not. You pay tax on withdrawals from IRA. No withdrawal no tax.

Maybe they feel they are a private company?