Re greedy pocket stuffing of BOD fees... Why should we REALLY care ?
posted on
Mar 19, 2014 01:40PM
because the company Treasury is being eroded and depleted ... inbetween Cliff's salary and Carl's and Gloria's fees, the mandatory PDS contributions, the Hoge Firm's legal expenses, the office/staff overhead, corporate administrative and SEC compliance costs, BOD travel and lodging, ITC related costs, NDOC related costs, Agility's cash fees, consultants, misc fees, etc, etc etc ...
How long will our $6M last before the BOD finds itself in a reasonable position to tell Shareholder's that inorder to be proactive, we too need to take precautionary protections or dilute the company even further ??? Every month that passes without income greater than expenses, combined with the wasting infringment recovery life of the Patents, becomes a greater and greater percentage drain of what cash remains and what the realistic prospects of future recovery will be.
Maybe past BODs who enabled the Crossflo and M&A debacles and wasted $20,000,000 of Shareholder money will make it up to Shareholders and repay their fees for their failed judgement ??? nah...
Of course, Cliff can always return the $2,000,000 he's taken from the company for his ABJECT FAILURE as a CEO, and Carl can give back his $1,000,000 in BOD fees, and Gloria can return her almost $1,000,000 she's paid herself in cash fees.
Ya think ??? ... yeah, when pigs fly..