RE: RE: Up Coming Events First, thinking you can turn this ship around and actually doing it are very different. The CEO came on at a time when Centric had little life left. Many successful businessmen jump on board companies that eventually must be forced into bankruptcy.
Second, there are many ways to turn around a company; bankruptcy and cash injections via equity dilution are two of those methods. I doubt insiders will lose, because going forward they have opportunities for additional shares, warrants, etc. Current passive shareholders don't have anything beyond what they have previously purchased, which seems to be losing value daily.
Given the stress and uncertainty this company is under, management should be more open to shareholders. Instead it seems they have chosen to keep quiet important information (like the affiliation of the new CFO with an M&A advisory firm).