I predict that unless there is a significant event happening between now and the meeting (sizable contract, government R&D funding, etc), the meeting will be cancelled. The reasons we'll be told are lack of shareholder interest and cost savings to the company. Shareholders will be encouraged to submit their proxy votes and results will be tallied and reported.
Estrella and Johnson have earned $1,445,577 and $740,441 total compensation as reported in the latest filing. Considering the continued decline in share price since their arrival and continuing to leave shareholders in the dark as to the status of the Argus platform, is this fair and deserved compensation for less than 2 years of work?
Maybe there will be another retention bonus around the time of the shareholders meeting. Toilet paper in the restrooms will be replaced by rolls of company shares, which will be cheaper than toilet paper at that point. This company is all about cost cutting, after all.
I bought into this pipe dream when the new management took the reins. So far this investment has been a big disappointment. When I heard of that stockbroker at last years meeting assuring shareholders this wasn't a scam, I should have seen that as a clear warning sign and sold off my position. Why would someone do that? Words of Richard Nixon proclaiming, "I am not a crook" come to mind.
Maybe I'm being unfair. I know Clark and Estrella have both made personal investments in this company. I realize much of their compensation is in the form of stock and stock options. That sounds good, but means very little to me as an investor when the share price continues to trade around 4 cents. I really hope they have a plan that is working, and contracts are forthcoming. Until I see results, I will continue my skepticism. Sorry if that ruffles someone's feathers here.
AI
