Stock options and "private offering" are two different things. I am not recommending the latter. The former have already been issued.
As for their salaries, I agree that they are treating themselves very generously. Here again, their ultimate payoff is with respect to their shares. Frasier's 40mm shares at $1 is $40mm. But in the meantime, I'm guessing they don't see any reason not to grab all the profit for themselves.
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