RE:RE:RE:RE:RE:RE:March 2021 Warrant ExerciseSugoioi wrote:
I'm perfectly fine with his bonus, it does not concern me at all.
The work he has done in not diluting the company while turning the company to profit has been excellent. To talk about the dilution he's currently causing shareholders is laughable and disappointing, if not down right misleading.
The possible impact on share price certainly makes it suspect.
Hello Sugoioi,
Thank you for your post - we have not seen you on the Board for a while - I thought you might have cashed out at $1.97 and moved on to other opportunities - glad to see you are still participating.
Your post addresses "bonus" as a singular - but recent comments have dealt with the $550,900 bonus awarded in 2020 and the more recent announcement of the terms and conditions around the 2021 sliding scale bonus ($210,000 to $420,000). Can you confirm that you "are perfectly fine" with the 2020 bonus, proposed 2021 bonus, or both? I can then respond with any comments that are consistent with this confirmed assessment.
While we wait for that reply, I can at least share the "not diluting" figures so we have a factual basis for that discussion:
Issued and outstanding shares Total Held by CEO CEO's share
December 31, 2015 37,617,430 2,786,369 7.4%
March 31, 2021 50,416,405 9,451,547 18.7%
Increase 12,798,975 6,665,178 52.1%
Over the last 5 years, shareholders have seen the issue of 12, 883,975 shares representing a 34.4 % growth/dilution in the share base at the end of 2015. Of the newly issued/dilutive shares, the CEO personally accounted for and received 52.1%,
Rather than "not diluting", can I suggest that the point you were trying to make was regarding the "work he has done" only diluting the shares by 34% while increasing his personal ownership of the Company from 7.4% to the current 18.7%?
Cheers,
S.