"I disagree about the "big bucks" KC get paid $160K which is way under industry scale of CSO's.
Mike Tomas may appear to be making a million dollars per year, but if you look at the financials he is $100% paid in common stock."???
1) Comella's base salary is $250K annually and just got a $300K cash bonus tacked on for just 2014 alone.
2) There is nothing to indicate in any filing, that "Tomas is being paid in shares only" or whatever?? Where? It indicated he gets a base salary and gets paid. What line in a 10-Q or 10-K indicates otherwise? Where? Tomas also just got a $500K "bonus" to be paid in "cash", and backed up with a promissory note w/ interest if not paid on-time, until cash arrives to pay it.
And while all that spending takes place- about $5K a month has been allocated to R&D, aka "trial" funding. SEE LATEST 10-Q.
All in the last 10-Q filing.
Here's from page 25:
"NOTE 13 — SUBSEQUENT EVENTS
Officer compensation
On July 28, 2014, the Company’s Board of Directors approved the 2014/2015 salary for Mike Tomas, Chief Executive Officer, at $525,000 per year, beginning July 1, 2014 with an incentive bonus ranging from $150,000 to $500,000. In addition, the Board of Directors will grant Mr. Tomas options to be determined on or before June 30, 2015. The Company’s Board of Directors approved a bonus of $500,000 and options to acquire 10,000,000 shares of the Company’s common stock for ten years with four year vesting and a cashless exercise provision at an exercise price equal to the five day average closing price of the Company’s common stock as of August 1, 2014. The cash bonus may be paid in the form a six month promissory note.
On July 28, 2014, the Company’s Board of Directors approved the 2014/2015 salary for Kristin Comella, Chief Scientific Officer, at $250,000 per year, beginning July 1, 2014 with an incentive bonus ranging from $100,000 to $300,000. In addition, the Board of Directors will grant Ms. Comella options to be determined on or before June 30, 2015. The Company’s Board of Directors approved a bonus of $300,000 and options to acquire 5,000,000 shares of the Company’s common stock for ten years with four year vesting and a cashless exercise provision at an exercise price equal to the five day average closing price of the Company’s common stock as of August 1, 2014. The cash bonus may be paid in the form a six month promissory note."
There is no indication that Tomas is not receiving or being paid his base salary of $525K in cash, on time. Look at the massive increase in their expense line entry in the 10-Q, a big part of that is "salaries".
