Snug, I spent Easter afternoon reading the annual report. I encourage others to verify my opinions and comment on the 10-k. Please correct any errors in my figures and comments. I am not an accountant so I may have made errors in my reading of these documents.
I now hypothesize a cause as why our stock price is presently at $.63. Why would institutional investors buy into this stock based the compensation being taken by the CEO(COB and CFO) and COO with the approval of the "compensation" committee?
If I am reading this correctly we have under 9.4 million in cash yet the CEO and COO where in 2016 paid... PN $475k, $140 bonus and M paid $335 and $69k bonus equaling $1019K OR IN EXCESSIVE OF 10% of BPTH's cash as of 12/31/16!
In addition, do not their generous stock options and cash compensation total 3.3 million or a third of the cash BPTH had on 12/31/16?
I believe the "compensation committee" justified these payments based on their analysis that the executives were paid at less than the top 25% of the chosen peer group. Would anyone who posts here believe the management performed better than 70% of their peers? IMO performance of the stock price alone would rebut the compensation plan assumptions, let alone the effect of draining limited cash reserves for salaries.
My review of the 10-k is causing me deep concern. By consolidating the company power in one individual PN (COB, CEO and CFO) has he placed the company at risk? IMO the BOD needs to step up and take control of this company before it is too late. The above represents my opinion based on the limited facts reviewed by me. I have been a buyer of the stock at these levels and may consider adding more to dollar cost average at these levels.
