Oh, it's gets even better and sweeter than that, as it's even gone up since then. They just granted Tomas and Comella large cash bonuses in 2014, as well as, big increases to their base salaries, as the common stock sinks like a boat anchor and it made it's all time low of .0063 in late 2013 and is now at a 9 month low for 2014, heading to near all time lows. (example, as fast as they started this PR of reporting "revenues", they handed out in just bonuses, more than all the revenue for the yr will amount too, especially given the high cost of sales, meaning low net on those "revenues". Thus, nothing about their precarious financial situation changed in the slightest IMO, they're as cash broke as ever and still issuing "notes" for "bonuses owed" or "loans owed" to insiders or whatever)
As you stated, for what do only 2 people get these huge base salary increases and cash bonuses? Look at the market cap and present share price and status of their key trials for instance.
From the last 10-Q, PAGE 23:
"Employment agreements
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 of 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 of a six month promissory note."
So, just those 2 alone (out of a company with qty-4 full time employees per their own 10-Q filing)- those two consume $525K + $250K + $500K + $300K = $1,575,000 dollars a yr for a near CASH BROKE, almost R&D spending ($3K per month), no approved product, 4 full time and one part time "company" that work out of a tiny, 4000 sq-ft leased facility (about a $6K per month facility lease payment per their SEC filing).
Yep, not hard IMO to figure out where most of the money is going and it's not "trials" or "medical research" that I can see per their SEC filings.
