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QServus

08/08/17 8:42 AM

#139051 RE: Smallville #139050

That's what seems to be the conflict of interest. He sticks hard working shareholders with 100% risk holding onto this pos, while rewarding them maximum 25% (could be less depending how his shares are structured and how the 613M shares ownership is) of the sale proceeds if this ever is sold.


Is it possible the 613M shares are an arms length transaction ?
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STEVEN52

08/08/17 9:05 AM

#139054 RE: Smallville #139050

Good post man. However, I believe ICNB can still rebound -- especially if Q2 numbers are good. That being said, I always knew that Rich is a typical venture capitalist whose primary objective is to skim the cream from the top and line his own pockets. While he and his wife are living high on the hog, honest small investors, got duped and bought into this at 2 and 3 pennies. Now he is laughing to the bank, while these poor folks burn and stew. Now don't get me wrong, if this were a successful company already, I would say that he should be compensated for his hard work, but ICNB is far from being a successful venture at this point. It has tremendous potential to do well in the future, but he should have some scruples and take a deferred compensation package until the company begins to turn a good profit. When we get a peek at audited fins, man we will get a rude awakening on his extravagance, IMHO. Perhaps, that's why he is dragging his feet to get fins audited.
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Whiplash_Investor

08/08/17 9:08 AM

#139055 RE: Smallville #139050

That about sums it up.