RE:50 cent takeover offerDo you really think such an EGO will ever sell the company? He is sitting on top of a hedge fund! More than 700 K of salary per year, a 1.7 million (or 1.9 M?) parachute if he quits or is thrown out and a slew of options that will auto-vest if he is taken out!
If my read is correct, I would also assume that his no balls Board has no clue that they are being manipulated or worse that they are screwed and do not know how to deal with this value destroying CEO (and team). I am not sure how Mr. Halde, Chairman of the Board of D-BOX likes it when his fellow Board members of TD Bank see him entangled with this embarrassing penny stock story. Why is he so patient? Heads should be rolling. What is the downside? We are at $18 M of market cap! At least the Board should announce a strategic review as Stephen Takacsy has requested.
We all saw that Claude has announced in the Management Information Circular that he his retiring this Spring. He however wrote it in a way that it could be at an earlier or later date! Why? most likely he is just trying to milk another sweet deal for himself out of this boneless Board! Just trying to milk more like the last 300 K options he recently got out of the blue.
I hope he does us all a favour and does retire. My assumption is that Claude is and has always been balancing his current income versus his personal upside if he sells the company and cashes his options. Status Quo versus sell. I do not think he cares about shareholders or that he ever did. He only cares about himself right here and right now. He played us like a fiddle for years and is a master at it.
This company is going nowhere unless he quits or gets sold. Then, maybe shareholders will make money unfortunately after paying our useless management team close to $5 million in parachutes so they can do at home the same as they are right now: NOTHING! and then they will go to the beach and cottage every year, drink $100 bottles of wine and think about how they screwed us all over.
Do the math, its all public. When this team starts enjoying their retirement and cash theur obnoxious parachutes, D-BOX will be left with no money bank account and several M$ if not tens of M$ to invest just to catch up on the technology! It is not the best accomplishment when the most value a management team has created in 15 years or so are the carry-forward tax losses!
When your only path to making $ with a stock is potential takeout because management has transferred shareholder value to their own pockets with a complaisant Board it is time to bail out.
And they also have a poison pill to protect them!
Eventually, things may get better, but it will be with a new Board and team. Stick around dreamers, hope you get your takeout before your beards are very white and very long or before this team sucks out eveything penny that is left in this once GEM.