No, I'm talking about them still retaining convertible stock which had they not been converted would have had a more disasterous impact on the share price than the price to remove them.

S&L took a gamble with their supporting cash infusion for which any returns are markedly higher than a shareholder would receive for many reasons, not least it is the nature of that type of investment.

What appears to be the problem is not so much the actions of the BoD to obtain financing, but envy as to the returns achieved by the funder. Which would be even greater had the convertibles not been removed.

Be well