Start with Item 10 on page 36 of the recent 10K. It's only 3 pages. What does this mean?

What is the BoD attempting to portray regarding qualifications and experience?

Is the BoD suggesting that the possession of these qualifications and experience has led to the consistent failures the past four years?

If a student makes all A's in elementary school, but makes all F's in four years of high school, should he represent to prospective colleges that he is an all A student?