Good on him for fessing up, that is a true sign of leadership, honest and openly acknowledging fault as well as remediation. Reality is it doesn't really affect the company financials too much.

Fortunately they're not a listed company as this would be slaughtered on the bigger bourse. Loyal shareholders will brush it off, as a learning, or some other such event. As is with illiquidity, sometimes it works for you, sometimes it doesn't. This time it probably will.