Viscount Systems (VSYS)

[finrafriend]

If there are no bonuses I suspect it's because there's no cash and the new guys on the board couldn't be bullied.

If you really think Raefield has a conscience consider this. He convinced the board the CEO "needed help" and got himself hired as COO around Jan 2013. The public documents show that he worked 16 hours a week and he made around $160K CDN for his trouble as CO for 2013. He was "managing" certain departments and the company was also paying for the cost of flying him back and forth from California. Read the contract. It's really a self serving load of crap.

On the other hand the CEO put in his 50-60 hours a week and was paid $117K.

Anybody else see this as odd. It was my first big warning sign that he is bad news. I guess for the shareholders the positive was that he only did 16 hrs /week damage until he became CEO.

Bottom line. If the board really needed a COO (which they didn't) and if Raefield was putting the company first (which he didn't)they could have found whatever "help" they needed locally for less money and FULL TIME.

They could have simply saved the travel, hotels, restaurants by running a craigslist ad. I bet they'd get some responses locally.

"Small local supplier of security and software systems seeks part time COO. Light work of 16 hours/week. No accountability required. Salary $150K + $175US/hour for overtime."