OriginClear Inc (OCLN)

[Oxonius]

Actually, I forgot about the new Restricted Stock program also. It's a very poorly designed plan that basically rewards revenues (above a threshold) without regard to operating profit; the second (discrete) trigger is operating profit without regard to actual profit or EBITDA - our SG&A levels are so bloated in any case that I can almost guarantee that the holdings of all current shareholders would actually be worth less after any Stock grants even though the purported purpose of the plan is to increase the value of the company and its stock price.

In my opinion, the main purpose of the plan is to increase the wealth of the CEO at the expense of the common shareholders. But then, this of course would have been a Board-approved program, a Board which is controlled by ... the primary recipient of the plan's largesse. And the same Board which handed over all those Series C Preferred shares for $0.10 the lot (together with 51% control of the vote). In exchange for what, you may ask? His "continued employment" with the company!! This employment also comes with a $360,000 base salary of course, plus incentive plan.