Question for posters
posted on
Dec 09, 2021 12:13PM
One thing that has been puzzling me lately (I'm easy to puzzle :) ) is given the state of affairs of the share price, the complete inaction on the Covid trial and failure to fund BoM2, why is Don paid $30,000/month with total annual compensation close to $2,000,000?
Also, why does he remain in the positions of COB, CEO and president? There are many biotech financial people that could take on the CEO job and ease the burden on Don.
From a shareholder perspective things don't add up in my mind. I feel that in any reasonably managed company Don would have been fired years ago. We've seen numerous Canadian biotechs achieve valuations in the billions and reward their shareholders handsomely. Yet with RVX you have a CEO that is not a biotech expert, lacks the education and required skills and has underperformed pathetically yet he has received an increase in total compensation. This is not good business.
I've tried to explain this by looking at what I see in terms of ORI and Hepa. Perhaps they want financial failure in order for Hepa to secure the IP??? I don't know.
And at Zenith we have Zenith University (with no value) - not a business. Strange...no liquidity after 7 years yet promising science.
It just seems fishy. Don has been given the gift of extremely promising science and the FDA added the icing on the cake with break through designation. Yet Don flits about achieving nothing and the BOD leaves him in place.
So after some discussions the idea emerged that perhaps it's not the power that we see (HEPA, ORI, Eastern) but behind the scenes players that are long term insiders that control the agenda and could provide insight into the current, strange set of affairs. Never thought I'd be a conspiracy person but the logic gap is just too big not too ask questions.
I'm not close to anyone at RVX but for those that are close, those that know people inside and early investors can you give any insight into who is really in control of this situation? Is there a group of insiders that are not obviously on the record that have a siginificant influence on the decisions at RVX that allow an obviously incompetent person to contol all of the visable power?
Befuddled Toinv