I don't recall ever seeing a warning that the BOD would be deficient! lol
The warnings you cite aren't a license to not perform their duties nor a warning that they would not, nor are they a shield from criticism. They're warnings about exchanges and markets.
Additionally, all of the corollaries to your views apply as well. As directors and managers, they have to expect the criticism and shoulder the blame. Just because it's a penny stock doesn't magically remove that. Where did you / they think they were? It's like taking a job for pay and then complaining when someone asks you to do what you were hired to do! Sheesh.
On one hand you're criticizing me and others for countering, with reality based posts, the rose-colored mentality that has often been exhibted here over the years, and on the other, you're promoting MMP milliions lottery shot if not only for lawsuits and re-exams and trying to say I'm the one with unrealistic expectations. Kind of like saying the LP would have been a killer product if not only for the CD and MP3 player, lol. My expectations have simply been for our BOD and managers to say what they mean and mean what they say, and to do what they are obligated to do, or get out of the way so others can.
You consider that unrealistic and hindsighted scapegoating, and I say you're simply wrong.