G-DAWG, every company pays their employees something, whether the company is performing or not. If they don't, its not a company and just a bunch of BS. There is an OTC fallacy that if you aren't performing via PPS you shouldn't get paid anything. Thats a load of crap. If the bankers didn't like their compensation, they would have changed it. In fact. according to OTCMarkets looks like they hired a few more employees especially a new in-house IP counsel who is a former patent examiner which to me is another indicator that the company is about to go out and protect their IP from companies that are infringing. Wouldn't be surprised if the bankers have a separate pool of funds for that. To me, thats a sign of growing a company and ramping up for whats coming. I am sure this is all accounted for under the bankers plans.
But since you are so worried about Lorraine's compensation, lets take a real look at why she earns it, I assume you bought many months ago, like the rest of us.
She holds millions of shares, and contrary to poster speculation, hasn't sold a single share since the company went public. None of them did. So the fallacy that management is getting rich is complete BS. She could sell, but she acquires and doesn't sell. So what has she done to deserve it?
She has 20 years experience designing, manufacturing and selling biometric products
She sold over $20M biometric products through Home Depot, Lowes, Sears, etc.....
She secured agreements and developed products WITH Master Lock, Honeywell, Sentry Safe
She started this business with a $400K personal investment (how much is yours again?)
She secured distribution through McKesson and Cardinal Health
Her contract manufacturers have been vetted by Fortune Brands (means trips to China and testing products)
She took the company public herself without an underwriter
She initiated sales programs with CVS, Walgreens
She developed programs for government such as Oklahoma Berea of Narcotics and Kansas Public Schools
She expanded the product line through innovation of medical devices
She vetted numerous investment banking firms and chose a top notch one that developed a 3 tiered plan with a great reputation on Wall Street for underwriting offerings, research and huge broker network
She already started acquiring companies and hiring more people to execute the plan.
She said it will take time to hit the 1M share public float mark.
She vetted and had chosen a top notch healthcare PR firm with a great reputation on Wall Street
The ONLY thing she could have possibly done better is the toxic notes situation, thats it. But the toxic notes are slowly building that public float that we all need to get to NASDAQ. Yea, PPS is down and may go down further, but if you understand the CMPO, you would realize the current PPS is irrelevant. If this uplifts, its just like a new IPO on a national exchange based on the bankers valuation approved by NASDAQ, not the current market, just a different vehicle with the same result. People are trying real hard to say its not going to happen because they don't understand how it works. Management, its bankers, its employees and those being acquired all seem fine with it.
Remember, this is a technology company, requires huge amounts of cash for development, testing and selling and I would say at least $25M. The Company hasn't raised more than $500K this year via toxics, most of which went to professionals to maintain the public status so shareholders like you have an opportunity to make money. That looks like its coming to a quick close as well.
If you feel she isn't earning her stock compensation, call her and tell her, We all have except a handful. But make sure she knows who you ate because she won't speak to an anonymous shareholder.
