Facts and Fiction
posted on
Jun 10, 2009 11:08AM
It is good to see such interest in our investment ... with that comes the obvious board games we will now experience.
I do hope the new administrators will be as diligent with keeping the facts and fiction separated.
That said ... there has been a lot of talk about skin in the game. There seems to be some giving the impression that TA is not aligned with the company and doesn't have skin in the game. I am highly offended by this blatant misrepresentation and attempts to dilute the truth.
Facts:
Mr. Atkins as 1,500,000 options at an ex price of .44. Share appreciation is definitely in his interest.
Mr. Atkins a change of control termination payment of $600,000 ... twice the value of the third year of his contract .... I hardly see him being specifically opposed to the merger ... he is protected through a contractual agreemnet made between himself and messrs Adams and Plaxton.
Mr. Plaxton's compensation
through Dec 2008
104,750 fees earned
112,679 option based awards
100,000 other compensation
317,429 total
the following is a summary of annual compensation payable
usd 250,000 plus USD 60,000 for a 'special' intensive M&A work fee.
1,000,000 options at .43 vested APril 30 2009. ( currently about $170,000 cdn at a .60 share price)
Other directors
Baehr $55,000 plus 350,000 options @ .49 vested
Harris $37,000 plus 525,000 options vested at .50
Selby $42,000 plus 250,000 @ .71 (100,00 vested)
Compare this to Adams and Miller ...who received
Adams
29,375 fees
29,500 consulting services and 200,000 options.
Miller ... no salary
Yes the cost of doing business certainly has gone up for us shareholders.
seems the last merger was a bargain, or the current one will provide so much more value .... hmmm the intensive M&A fee ended in March .... didi I miss a combination?????
orgy