Based on the recent 10Q
How will Dr. Korenko be compensated depends on company performance:
Under the terms of the Employment Agreement, the Company shall pay to Dr. Korenko a base compensation of $180,000. Of this amount, $120,000 is booked in monthly intervals and the remaining balance is only paid upon the Company achieving a cash balance that exceeds $1,000,000. The Company has elected to record the compensation as $120,000, and upon achieving the milestone of $1,000,000 in cash balances, will record the deferred compensation at that time.
In addition to the cash compensation, the Company has granted 2,625,000 stock options under the Company’s 2015 Omnibus Securities and Incentive Plan to Dr. Korenko. The granting of the stock options occurs 10 days after the approval of the Company’s recent 1 for 8 reverse stock split that occurred on June 28, 2018. The vesting of the options are as follows: (i) 50% vested in equal amounts at the end of each of the four successive calendar quarters (12.50% for each of the quarters September 30, 2019, December 31, 2019, March 31, 2020 and June 30, 2020); (ii) 25% upon the Company closing a financing of $1,000,000 or more; and (iii) 25% upon the first commercial sale of IsoPet ® , with all vesting to accelerate and all unvested options to be vested upon a Change of Control, as defined in the Employment Agreement.
So Dr. Korenko as CEO and insider got and will be getting lots of shares:
which means he and the team got to work hard and deliver, means not only their jobs on the line, their savings also on the line if they screw up. They knew this is a winning investment otherwise it is like shooting themselves in the foot. This is a good indicator that this stock will start climbing and will hit human trials sooner or later.
