Hobson was removed from the board at an EGM on Monday evening despite being refused entry with his solicitor and unable to give his side of the story.
The SUFC board confirmed that Hobson was chairman for 48 hours, after Steve Wharton stepped down following the final home game of last season.
“Scunthorpe United isn’t going to make me money, it’s going to cost me money. I knew that when I got involved,” Hobson told the Scunthorpe Telegraph.
“But the one thing I would have done is made a difference, for the better. I would have got people involved and who would have invested.
“I’m a bit peed off, but it’s not the worst thing that will happen to me.
“There’s a lot of other things going on in my life for me to focus on, it’s just a shame because I like the club.
“I’m disappointed with how it’s worked out, but they (the other directors) probably haven’t heard the last of it. I’m going to take stock with my solicitor and we’ll decide where we go from here and what action, if any, we’re going to take.”
Hobson had purchased £20,000 worth of shares in the club, whilst the board rebuffed his attempt to purchase a further £26,000 worth.
“It was a foregone conclusion (being voted off the board), I knew that,” Hobson added.
“But I’ve put a lot of work into pushing Scunthorpe forward.
“I’ve done nothing wrong. All I’ve done is get involved with a club who asked me to come on board.
“Scunthorpe is a club I’ve got an affinity for.”