Shannon, We Hardly Knew Ye (SEFE)

It was just under a year ago when we started to examine the wretched Sefe, Inc. (SEFE), the nearly vacant office occupying plaything of the Kerr and Quiel families. New BuyersStrike! readers can catch up here, here, here, and here.

So there was great sadness when the most recent SEFE 8k (available here) crossed our desks. According to the filing:


Change in Directors or Principal Officers

Item 5.02 .Departure of Directors or Principal Officers; Election of Directors;
appointment of Principal Officers

On the 15th day of February, 2013, Shannon Kerr and Michael Cromar offered their resignations as members of the board of directors by email addressed to the individual members of the board of directors of the Company.

That’s not all.

On the 15th day of February, 2013, Donald C. Johnston offered his resignation as an officer and director by email addressed to the board of directors of the Company

Given that Donald C. Johnston, was, as of December 31, 2012, both the CEO and the CFO, who is steering the ship? And to whom did he email his resignation letter? Why Humble Harold of course!

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

March 13, 2013
By:  /s/ Harold Sciotto
Name:  Harold Sciotto        Title:   Director

But what ever happened to former SEFE CEO Wayne Rod? We’ll find out very soon….

The content contained in this blog represents only the opinions of the author. The author may hold either long or short positions in securities of various companies discussed in the blog. This commentary in no way constitutes investment advice, and should never be relied on in making an investment decision, ever. This blog is not a solicitation of business: all inquiries will be ignored. The content herein is intended solely for the entertainment of the reader, and the author.

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