Its been over 6 months since the last entry on my blog. The reason for the hiatus was a combination of being very busy in my role as interim President & CEO of SonnenEnergy Corp. and the risk of writing about the goings on at the company given the disclosure rules of the Toronto Venture Exchange. Frankly, I wasn't too sure about what I could and couldn't write about. So, I chose not to write at all.
I left SonnenEnergy a little over a month ago. I have been asked by many people why I left. The bottom line was that the board of directors and I were in a dispute with Hans Hager, the founder and major shareholder of the company. It got to the point that Herr Hager commenced litigation against the company and me personally. He was able to get injunctive relief that made it virtually impossible to deal with the many problems of the company without a court order or his consent.
Despite many attempts to settle the litigation or obtain Herr Hager's consent to some of the changes that the board and I had brought forward, we simply couldn't move the company forward. In addition, we were needlessly spending a huge sum of money on litigation. We came to the conclusion that it was not in the best interest of the company to spend money that we didn't have to fight the litigation. As a result, we resigned and turned the company over the Herr Hager and his new board.
The ball is now in the new board's and Herr Hager's court to act in the best interest of the company. I remind them that they must take into account the interest of the company as a whole when making decisions about the future of the company. I wish them well, particularly since I am still a significant shareholder of the company.
No comments:
Post a Comment