Applied DNA Sciences Inc (APDN)

[ckuratz]

AP1...Let's be sure to put executive compensation in proper perspective. Hayward has been at the helm for 11 years. Between 2004 to 2009 he took no salary while the CFO and CTO were being compensated in the six figures indicating that he selflessly sacrificed his own financial well-being while making sure that other key employees were taken care of. In 2010 he accepted a salary for the first time of $58K. His subsequent salaries have grown to $65K in 2011, $242K in 2012, $320K in 2013, and $343K in 2014. Over his 11 years this averages at $93K/yr. Moreover, he financed the company on his own multiple times. Most recently he loaned $1M to the company. This means that he has put more personal money into ADNAS than he has extracted.

Of course he is not a total selfless saint since he owns millions and millions of shares through his private placements and incentive options. I haven't calculated his total ownership, but he is undoubtedly the largest shareholder of the 33% insider ownership in the company....and this is the point. The Insiders have substantial skin in the game, more than any of us writing on this board. They have every incentive to make this company the best that they can and to protect stock value as much as they can.

Hayward ran successful companies before ADNAS. This is not an endorsement that he is doing a good job, but since he is probably the biggest shareholder, I firmly believe he is trying to do his best. If I were a fly on the wall during the board meetings, I could judge better how well he is really doing. However, I obviously don't have this luxury, so I simply trust that he is competent. As to whether he is overpaid, I think he is an easy target in view of the company's total sales and heavy losses, but I think this is short-sighted optics.

Being a stockholder right now is frustrating, but that is because the stock value is shrinking, not because the company is going in the wrong direction.

Look, I am not endorsing APDN as a good investment. That is not the purpose of posting here. However, I bought more today because I think the stock is cheap. I fully understand that I might regret this in the future, but I also know that nobody is forcing me to be an investor. GLTA longs.