From the Lion Board:
bloodhound99 Saturday, 03/31/12 11:15:47 AM
Re: None
Post # of 1277
Now that you have learned that Tony Cataldo was appointed Chairman and CEO in February of last year by the "powers that be" he has:
1. Awarded himself 3 million free shares of GNBP stock valued at well over 3 million dollars
2. Had awarded or "transfered" to his fiancee at the time Ines Garcia (Romero?) 3 million free shares of GNBP stock valued at over 4 million dollars under the name originally of "Garcia Family Trust" later revealed to be Ines Garcia (Romero) Tony's fiancee.
3. Had his fiancee receive another half million shares of GNBP from a transfer from BC Capital valued at over $ 700,000.(Gee I wonder who THAT is? I'll wager its someone VERY close to the Cataldos to hand over that kind on an investment as a gift)
4. Strangely Tony "sold" 1 million of his own shares valued at well over a million dollars to Emmes Group for $ 1,000. a 99.9% plus discount on the shares. GNBP director Martin Schroeder is head of Emmes Group. HMM . Emmes Group also had a consulting contract for $ 10,000 a month which last year was raised to $ 20,000 a month and in February 2012 was raised to $ 60,000 a month. (Wonder if Tony's next "stop" might be at Emmes Group.)
But the story doesn't end there. Instead of simply selling the shares to Emmes for $ 1,000 in a private transaction and delivering the shares to Emmes, Tony had the company issue 1 million shares and filed SEC paperwork (see November 10Q) saying the 1 million shares was for a "consulting contract". That was obviously a lie. Tony's "intention" was to turn in 1,000,000 of his shares to GNBP to replace the 1,000,000 he had GNBP send to Emmes. However it took Tony almost 7 months until March 12, 2012 (incidentally Martin Schroeder of Emmes filed an Form 4 SEC filing three days before Tony turned in the shares on March 9, 2012 saying he purchased the shares for $ .001 instead of it being part of a consulting contract) to get around to turning the 1,000,00 shares back in to GNBP.
Folks it just can't get any slimier than that. (These actions takes me back to Tony's actions at Calypte and the World Vision LOI fiasco in September and October 2003)
One does have to wonder why anyone would sell stock worth over a million dollars to an "insider" for only $ 1,000. Bet we never hear that answer outside a courtroom.
5. Well moving right along. Tony finally got around in October 2011 to awarding himself a $ 300,000 a year salary backdating the effective date to May 1, 2011 one but actually paying himself effective from February 1, 2011. ( $ 275,000 of $ 300,000 paid in 2011)
6. The free 8 million dollars of stock and a $ 300,000 salary weren't quite enough so Tony was awarded with 2.5 million options to purchase GNBP stock for a multi-year period.
7. In addition Tony set up his contract so that if he were fired without cause he would get an additionanl 1.3 million in cash and health insurance for a year.
Yes it was a "very good year" for Tony Cataldo (and Martin Schroeder and Michael Handelman as well) at GNBP.
But lets be fair. Sure Tony got multi-millions plus in his first year and did a thing or two that could be seriously questioned. But big time leaders and guys that "get the job done" deserve the big bucks they get right.
1. I mean look at the increase in sales and profits under Tony's leadership. One could honestly say that GNBP NEVER had results like these. (No sales and 20 million plus in losses... way to go Tony)
2. Tony pays $ 50,000 advance to OXIS where he is also Chairman /CEO to get IP rights to their products. (Later this agreement is negated and OXIS never returns $ 50,000... way to go Tony)
3. Tony get $ 5,000,000 dollar loan for GNBP from present insiders plus Ayers Capital partially to use to finance CRADA operations.(This money is now all but gone, and after making first two $ 250,000 in payments on a 1 million dollar a year/5 year commitment Tony missed making the $ 250,000 payment due in March. The due date on the repayment of the $ 5,000,000 loan was 11-30-2011 and has been extended 7 times to 3-30-2012 and still not paid ... way to go Tony.)
4. Tony did get a number of impressive people to serve on board of directors and board of advisors. (The board of directors included those in the Kessler camp and Martin Schroeder the director who got his stock at a 99.9 % discount and just had his consulting contract raised from $ 20,000 a month to $ 60,000 a month; the board of advisors were hired on on a consulting basis at $ 3,000 per month and headed up by Gray Davis the "recalled" California governor. The high paid consultants apparently were not able to find any money to pay the $ 250,000 owed for CRADA researtch in March, the 5 million owed lenders, or the projected 25 plus million needed this year to develop GNBP products..... Hey way to go Tony))
5. Tony did make sure that all the employees were paid their wages in full. (Of course that was just himself and Michael Handelman but still.... Way to go Tony)
6. Tony did step aside as Chairman so that Hans Bishop could take that responsibility. (The fact that it happened in the month when Tony finally got around to returning the 1,000,000 shares after the Martin Schroeder fiasco and just before learning via this 10K that one of his companies OXIS did not repay another of his Companies GNBP I am sure is is just coincidence ..... Way to go Tony)
and Finally...
Interestingly, although the company lists all 6.5 million shares of Tony's as compensation, Tony only claims 3 million disavowing his beneficial ownership of the shares his then fiancee and now wife was given. (Interesting indeed.) Here it is from 10K
Includes 3,000,000 shares of common stock and options to purchase 541,750 shares of common stock that are exercisable currently or within 60 days of March 27, 2012. Does not include 3,501,455 shares of common stock owned by Ines Garcia, Mr. Cataldo’s wife. Mr. Cataldo disclaims beneficial ownership of Ms. Garcia’s shares.
Yes you could not make this stuff up any better than its playing out here.
P.S. Did anyone catch the name of the party who provided $ 250,000 in February 2012 to GNBP.
