Enhanced share option plan
posted on
May 28, 2011 09:28AM
Management has the gall to ask shareholders to vote them more free options to incentivize them to continue on their stated quest to enhance shareholder value. Last June we voted yes (or someone did) to grant management cheap 24 cent options to reward them for their stellar performance. What has management achieved since last June?
1. They dropped share price from a high of around 75 cents to 11 cents.
2. They failed to get the jv done
3. They got the moc cancelled
4. They most likely got us de-listed and disgraced to the pink sheets
5. They have failed to re-structure the debt
6. They have brought us to within 10 short months to bankruptcy
7. They have refused to reduce bloated overhead (high rent offices) and unnecessary executive staff
It appears that management feels they need more incentive In order to "enhance shareholder value".
How does one define "enhanced shareholder value" anyway?
Well...for starters, I would say that the fully diluted "non-reverse splitted" share price needs to exceed last june's high of approximatey 75 cents U.S.
These guys better have a surprise "happy bomb" to drop in time for the agm to justify their grab for more cheap shares. The term "ARROGANT PIGS" comes to mind.