GREY:BXEFF - Post by User
Comment by
CanadianBuckon Aug 24, 2016 12:46pm
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Post# 25172337
RE:RE:Insider Buying Yesterday...
RE:RE:Insider Buying Yesterday...righand2 wrote:
Unfortunately, they also issued themselves a pile of cheap options to replace the ones issued with a $5 strike price that just expired. They are responsible for the share price being at a buck, and yet use it to further pad their wallets. That is, of course, if they can ever get this company functioning profitably again.
Yes it sucks and they all do the same thing. They shouldn't be allowed to set the price so much lower than the expiring batch. Maybe halfway between would be more fair. The BS that options put management on the same page as shareholders doesn't hold water when they get to reset the price lower when they aren't successful. I believe that up to 10% of the outstanding shares can be given out as options and that is way to high. Also aggravating to see management in BXE hold very little actual stock, Ray has something like 650,000 shares, big deal. Options for management are just a way to legally rob and dilute shareholders and to pay caretaker management much more than they are worth. (Potash Corp is a glaring example of that) So while Ray's 50,000 share purchase is ok it would be nice to see all management step up and put some real money in at these levels through open market purchases.