CEO """""Performance"""""????????
10/01/22 Gives HIMSELF new performance package:
$100K plus 20M shares for each year - Not unreasonable in this stock price range, if there was actual performance
One-time bonus of 20M share if stock price reaches $1.00 - Bargain
30% of revenue for any contract he brings up to $1M - Ridiculous
40% of revenue over $2M for any contract he brings - Something well beyond ridiculous
03/28/23 CEO is legitimately owed $118.244K by company
Gives HIMSELF 100M shares. Opening stock price on that day was $0.027. Value of stock to settle $118.244K debt: $2.7 Million. There are not words to come close to describing how ridiculous, over-the-top, insulting and undeserved $2.5M of that is. That stock is still worth $959K at yesterday's close, for $118K debt.
Unfortunately, it is likely a huge indicator of capability that, even with the ridiculous performance clauses triggered if CEO brought in contracts, NONE have ever made it to the company cash flow, even with HIM being the personal beneficiary, not the company, of significant portion of revenue that would result from them.
What have shareholders gotten for the above?
12/22 Started a trickle of online sales
02/24 Company received $1.2M of back licensing payments Accounts Receivables (from his other company) - Must be confirmed in 1Q24 report
The scales are beyond argument, tilted in a certain direction.
Still hoping that a great, very effective product can overcome the humongous drags in other areas, to once, and for all, benefit actual shareholders.
