Biotech Values

[DewDiligence]

GTCB has just issued an aggregate 272K shares and 300K options to six officers. (According to the SEC filings, the shares are in lieu of cash bonuses for 2005.) The allocation is as follows;

Geoffrey Cox, CEO
90,923 shares, 90,000 options

Jack Green, CFO
41,821 shares, 35,000 options

Greg Liposky, SVP, Operations
39,257 shares, 50,000 options

Harry Meade, SVP, Transgenic Research
40,664 shares. 50,000 options

Richard Scotland, SVP, Regulatory Affairs
24,653 shares, 50,000 options

Daniel Woloshen, General Counsel
34,715 shares, 25,000 options

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If seems as though bonuses have been given out for effort rather than for results.