Based on the bullet points I speculate, they, or the owner personally, owed money to somebody that could take the company, and that somebody is likely on the board or knows someone on the board based on the CEO getting pissed about a board member being cc'd on an email.
Taking the TV money to use on other stuff screams of when AOL Time Warner used to do this to WCW, take parts of the big revenue and put them on the Warner books and claim WCW lost money, and while WCW lost money either way, on paper it was more the way Warner was cooking things.
Refusing to do loans is another red flag about the board, they didn't want to take out loans likely because the board would need to be notified. I can see why AEW was their golden goose, it was the only real "brand name" they carried and it was far cheaper than a cable plan.
Those final two bullet points... y'all remember when Dixie was playing the investor shell game, which ultimately led to TNA going to Anthem... yeah, this sounds eerily close to that, to me.