It was an consulting services agreement they entered into in February 2015. Overall it was a notification that he joined their board. The filing is a disclosure of the terms of his contract. Instead of paying Bonfiglio substantial in fees, they're paying him a reasonable amount and giving him the opportunity to buy up to 250K options at a set price, in exchange of consulting services. These are not being given outright which is the norm, the company stands to essentially raise capital, though not toxic as no right mind Board member would turn around and sell to hurt the very company he was hired to help. If Bonfiglio buys his all of his month to month options (can only buy a set amount per month for up to a year), the company will get $362,500. That's a lot of money for any private individual to come up with. I don't know if he bought any options yet, but if he did that would be positive IMO. Some of services Bonfiglio will provide for the company is develop and implement new TPIV's strategy to increase financing opportunities; present TPIV at external meeting and conferences; and, improve their management team, add Board members, which he is now one. Bonfiglio has Phase II capital raise, as well as uplist experience is what they need at this point. I expect that he will help them raise less toxic funding (real funding, not warrants) which is better for shareholders us. I'm okay with them giving him the right to buy those options as his paycheck, which is essentially what they've done. His appointment to their Board is very positive. I would not be shocked if he takes a more permanent day-to-day role assuming all goes well. So far for us, while the stock may be down, their financial standing is up, so it's been positive in my mind. Bonfiglio's fees essentially pay for Mayo's IND. Very happy to see that IND to transfer to the company. Another risk removed. :)
BTW, the market usually responds when things happen not after. I think they would be happy about the appointment. I was. :)
