Mark,your comments are most relevant and I cannot understand the BOD position to just stay the course until markets improve. Who are their advisors and how can they be so narrow minded ? This is quite simple to understand: it is not rocket science .
My gut feeling is that we are not being told the whole story. They may already be in negotiations for a T/O OR THE MAJOR BACKERS LIKE SPROT/MACQUAIRE AND MAYBE EVEN BMO are saying to the BOD to stay the course or we will drive your company even further into the black hole.
There appears to be something that just does not make sense .