Rewarding bad behavior - a la AVR The Board has granted an aggregate of 6,000,000 stock options to directors, officers and consultants pursuant to Canaco's Stock Option Plan. The options have an exercise price of
.40 per share and an expiry date of August 3, 2017.
You gotta love companies that destroy shareholder wealth and then reward their ineptitude by awarding themselves 6,000,000 options at $.40. This is so much like Avion mngt and the only good news you can read into it is that you might see a takeover. I am amazed the securities regulators don't investigate the AVR option award which was more than likely a very timely event.
At least the institutional shareholders are bearing the brunt of the abuse, but do they really care. They are not investing their own money.