GREY:ARGEF - Post by User
Post by
toadollaron Jun 01, 2018 3:10pm
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Post# 28112990
8020 post
8020 post Couldn’t agree more
“
Dear Argex, As much as I like Mr. Alnaimi's and Mr. Moore's business experience and credentials, there's a lot of dilution going on with this company just with insider compensation. My math may be off but Mr. Alnaimi would have made back the money he invested in 2016 and then some with the stock option and warrant grants. The biggest issue I'm seeing from the annual statement is that the alignment isn't there for the compensation and meeting the milestones in a timely manner. If we look back on past presentations and projected timelines, they were sorely missed. New presentations don't even try and only give the year and that's a reflection on management's own confidence of the projection. The more things get dragged on, it actually benefits the insiders since they get a bigger share of the company on shareholder expenses. A small company like this with a high compensation like that is detrimental to the outside investors. The share price reflects that and with the current dilution rate, I wouldn't doubt there's going to be a share consolidation soon which will decimate the early investors. I'm a shareholder for about a year so I'm not as much in the hole as other earlier investors. I certainly wish the best for Argex. I'm sure everyone sees good potential for Argex and that's why we're all here. Mr. Alnaimi may still be the best person to lead Argex, but I'd like to raise what I think are legitimate concerns and hope it either gets clarified if I'm incorrect or address if they are. It's a lot to ask shareholders to simply put trust in the "new management" when there's a disconnect aligning the interest of the management and shareholders. Regards, Sam”