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Post by uvula on Apr 5, 2020 10:09:05 GMT -5
We need to do a petition against the Reverse Split that we all suspect will happen if Mike can't get share price back over a dollar. Why? What is the alternative? |
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Post by MnkdWASmyRtrmntPlan on Apr 5, 2020 10:10:58 GMT -5
From regenmedprovider..( A respected doctor on ST) “I’m not on PB, but whoever said the BOD seems complicit is accurate. Of course they are. This is willful blindness. It is a legal concept and actionable. The BOD knows or should have known that there are/were shenanigans. But they keep cashing their hush money checks.” There’s nothing more true than that. I totally agree, brother. This is THE problem! And to think it was articulated by Homer Simpson.  JK, Guyo. Seriously, Guyo, you hit the nail on the head. The BoD are complicit in driving our company into the ground with their objective of lining their pockets with our money until the well has run dry. Here's some more words to call it: disgusting, amoral, unconscionable, indefensible, revolting, and flat-out wrong! How dare them! Their obnoxious guts!!! They MUST go! Which just makes me think, and wonder if that is an additional motive for the BoD to give our new shares away to a group that would vote quid pro quo to keep the BoD alive. Naw, I guess that wouldn't work, right? Because the BoD vote occurs on the same day as the shares authorization vote - isn't that right? |
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Post by uvula on Apr 5, 2020 10:32:35 GMT -5
Just to keep things real, the BOD aren't on the board to get rich. They are probably already rich and I don't think they make much money by being on the board. I think they just don't care enough about the company to do anything that requires their time or effort.
Update: just realized this is partially dumb because some board members are also employees.
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Post by barnstormer on Apr 5, 2020 11:26:21 GMT -5
The alternative UVLUA is the transparency Mike has promised since taking the CEO position. Share price can be directly affected by information coming from the CEO. A couple of months ago we were at $1.50 thinking the warrants would be taken out as the price climbed. Mike sends a PR about a deal he made with an unknown private company working on a CV 19 drug. SP jumped over $.10, not much but it would get us over a buck now. He stated he was overhauling the pipeline. No followup on what that means. He will probably say he did a great job of raising the SP after the reverse split shows yet another fake value. He hides the revenue coming from the Brazil market while it may not be much it is still a revenue stream. If he continues his business as usual ways we will be forced to to a reverse split to stay in NASDAQ compliance. There is really no reason other than his MIA approach that we shouldn' be back into the $1.50 range safely out of RS territory. Good CEOs defend share price. Mike ignores it. As investors we need to graphically show Mike and the board that is is unacceptable.
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Post by nylefty on Apr 5, 2020 11:53:55 GMT -5
Just to keep things real, the BOD aren't on the board to get rich. They are probably already rich and I don't think they make much money by being on the board. I think they just don't care enough about the company to do anything that requires their time or effort. Update: just realized this is partially dumb because some board members are also employees. Mike and who else? As far as I know he's the only board member who's also an "employee," |
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Post by sportsrancho on Apr 5, 2020 12:05:07 GMT -5
Don’t they make over 100,000 a year being on the board ? ..and aren’t most on other boards, this way they can retire and have a great living just having to work a few days a month.
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Post by uvula on Apr 5, 2020 12:09:18 GMT -5
The board compensation is public info. I'm just not sure how to find it.
My fuzzy recollection is they make around 3k/year to attend a few mtgs.
3 people are directors. Mike, Jennifer grancio, and Anthony hooper. The rest of the bod are independent directors. Does that mean anthony and Jennifer are employees?
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Post by sportsrancho on Apr 5, 2020 12:19:21 GMT -5
The board members and their compensation is public info. I'm just not sure how to find it. My fuzzy recollection is they make around 3k/year to attend a few mtgs. By the Boston Globe's calculations, the median pay in 2014 for a board seat at a micro-cap company (one with less than $500 million in revenues) was $105,583; pay increases with company size, up to $258,000 for board members of the 200 largest U.S. corporations (those with more than $10 billion in revenues).Jun 25, 2019 |
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Post by sportsrancho on Apr 5, 2020 12:21:50 GMT -5
We need to do a petition against the Reverse Split that we all suspect will happen if Mike can't get share price back over a dollar. Why? What is the alternative? Sell and buy back later. |
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Post by uvula on Apr 5, 2020 12:23:23 GMT -5
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Post by morfu on Apr 5, 2020 12:41:02 GMT -5
"Intended equity value: $150,000 (The number of shares will be determined using the then-current guideline price for employee equity awards.)"
Is it just me or do they actually get more shares if they don´t stop the price rundown? Either it seems that they don`t need to care about the share price for their compensation..
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Post by gamblerjag on Apr 5, 2020 13:17:57 GMT -5
Why? What is the alternative? Sell and buy back later. I think we get the standard six months to get the price over a dollar… And my guess would be that they would get a six-month extension which is almost always granted especially during this difficult time. |
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Post by nylefty on Apr 5, 2020 13:44:06 GMT -5
The board compensation is public info. I'm just not sure how to find it. My fuzzy recollection is they make around 3k/year to attend a few mtgs. 3 people are directors. Mike, Jennifer grancio, and Anthony hooper. The rest of the bod are independent directors. Does that mean anthony and Jennifer are employees? From the PRE 14A form filed on April 01, 2020:
INDEPENDENCE OF THE BOARD OF DIRECTORS As required under the Nasdaq Stock Market (“Nasdaq”) listing standards, a majority of the members of a listed company’s board of directors must qualify as “independent,” as affirmatively determined by the board of directors. Our Board of Directors consults with the Company’s counsel to ensure that the Board’s determinations are consistent with all relevant securities and other laws and regulations regarding the definition of “independent,” including those set forth in pertinent listing standards of Nasdaq, as in effect time to time.
Consistent with these considerations, after review of all relevant transactions or relationships between each director or any of his or her family members and the Company, its senior management and its independent auditors, the Board of Directors affirmatively has determined that all of the Company’s directors, other than Mr. Castagna, are independent within the meaning of the applicable Nasdaq listing standards. Mr. Castagna was determined not to be independent under applicable Nasdaq listing standards due to his position as an executive officer of our company. In making this determination, the Board found that none of the directors has a material or other disqualifying relationship with the Company.
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Post by hellodolly on Apr 5, 2020 16:13:19 GMT -5
Dolly, I think you are incorrect in saying “he will not get any base salary in 2020.” Frozen means the executive team will not get an increase in base salary in 2020, they will be “frozen” at 2019 levels. Good catch. Frozen means exactly that. Still getting his base, but no increase in the base. Thanks Boca! |
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JK, Guyo.
