BioTrack Termination?
I would like to know what this is about.
On February 29, 2020, the former President of the Company’s BioTrackTHC subsidiary forfeited 1,430,306 BioTrackTHC Management Awards and 204,364 Bio-Tech Medical Software, Inc. 2014 Stock Incentive Plan stock options as a result of his termination (See Note 16).
The news bites say he "resigned." Which they all say, which is okay. Could be or could not be. But this says "termination." And he forefeits all of that last quarter? That's painful. And just on the surface.
Is anybody else suffering a loss? Because I like pain inflicted on others when pain is inflicted on shareholders. I want to know more about the reasons behind this pain.
It's also good to see this:
On January 28, 2020, the Company entered into a subscription agreement with an investor for the purchase of 270,270 shares of the Company’s common stock and 135,135 warrants to purchase shares of the Company’s common stock at $0.40 per share for total gross proceeds of $100,000.
That investor is underwater then. As it should be. His only gain at that time, rather than purchasing at market, seems to be warrants. So, he's down. Nobody in 2020 is getting toxic poisons to deliver to shareholders in the future. Everybody is down, except for those accredited investors that got the .11 exercisable price. But that's our price today and perfet alignment of interests, and they are restricted for a year from exercising. Not even sure how they benefited at all rather than going straight to market, so that's fine by me.
The preferred shares with their anti-dillutive clauses, go up in their dilution potential due to all these loans, but they exercise at .32, which is more alignment of interests. The alignment of interests have improved greatly. So, you punch the mother #$@$#@ers in the mouth if they don't reward YOU. Shareholders first, insiders second!
