I`m holding back from my own snarky comments (World`s best Bathroom similie/Getting flushed, etc...)
The thing that`s not clear to me, is he still on the BOD?..is this a move from back earlier this year, or does this represent the final apron string being cut?
Asking for $1.5M? Why bother - he can make that up on the business/finance lecture circuit talking about PIPEs.
Regards