I don't know where you get the idea that he still gets $500,000 as Mr. Shareef declined "to consummate the transactions contemplated by the Put Agreement". I don't believe the 550,000 "Termination Shares" were issued either, but I'm not positive.
Also, like I said, the $100,000 he is to receive is really not a "bonus" for his performance, it is what he accepted in lieu of the $500,000 cash he was originally due, so what else could it be called ? If this wasn't done taking into consideration the best interest of the Company and its shareholders, I don't know what is !!
Furthermore, I don't know where anybody gets the notion that Mr. Shareef will be selling his shares anytime soon; first he would have to file an S-3 to register them, and then he would have to file a Form 3 and then a Form 4 for each transaction (sale). Just think of what would happen to the share price if he did that !!
I for one am extremely grateful that Qayed and Ben took over Mimvi, especially considering the alternative. I don't believe for one minute that these gentlemen deserve the bad rap they're getting just because things don't seem to be progressing as fast as some people think they should.
Also, I do agree with what one of the the new posters who said, "I for one will be holding long term for the ride. This is a 2-5 year play."
I'm not so sure about this one though, "As I stated previously this company will do more than 25 million in revenue this year.", but I think I have patience enough to stick around and see ... I believe it was stated that OneScreen alone had something like $15 million in revenue, if I'm not mistaken.
I know you don't want to see this, but it could turn out to be true ...
Kasian Franks:
"Today, NFLX has a 49 million share float while MIMV has a 65 million share float. This needs to be fixed and their is a plan in place to do this and I'm not talking about a standard 10000000000000000000 to 1 reverse split. I'm confident Mimvi management will continue to travel down a path toward this primary focus of repairing the float with the goal of listing on Nasdaq."
Let's hope he was right about this ... I guess we'll know just how confident he really is when we see the list of "Beneficial Owners" in the Company's 10-K which is due to be filed at the end of March.