Zipfel, Simpson, McKnightZipfel rejoins the board, Simpson re-joins as advisor to board, and McKnight steps down from the board.
McKnight has been on the board about five years, and there can be many reasons to step down from a board including health and personal demands on a director's time. I don't know McKnight's specific circumstances.
But there's only one reason to join the board of a company that's troubled, and especially one that hasn't filed financials in 15 months.
Simpson and Zipfel see upside in this company.
That's a strong endorsement.