Matin has not used the $500k to buyback yet. Stephen told me this afternoon that it hadn't happened yet but Javeed said it would be soon.....Again I will believe it when I see it.
None of you seem to know much about stock options.
Stephens are structured to be weighted towards the higher prices. If you weigh toward the low end you take the risk of the person bumping the price up to the low hanging fruit, then gives up, quits and makes good money. That is bad business. Stephen knows he will make a great deal of money if he does a great job and pushes us very high.
He stated in first conference call his options are capped at $3.50. If you call him he will tell you they are tiered and weighted towards the high end. I will not reveal his initial strike price but if you call he might tell you.
I will say that he is currently "underwater" so he hasn't made a dime yet (and neither have we most likely...) so seems fair. Also I can say they kick in in .25/.50 increments. IE-some at $1, $1.50, $2, etc...
Someone posted earlier if Stephen is god or something, or if he was stupid for having $3 strike price. If you don't understand something why don't you call him and ask? He is definitely not stupid and BTW if he does manage to get the share price to $3, he can have the options as far as I am concerned. Just because he reaches option prices, doesn't mean he will automatically sell them...He has indicated at times he wants to be a part of this company long term.
IMHO we need to keep on top of Javeed to do the buyback. And I think Stephens credibility is on the line with this Audit. We better see it before the next CC..
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