RE:Maybe Claude has one last trick up his sleeveThe trick up his sleeve is he is going to whack investors on the head again!
Did you notice last time management got options; Mc Master did not get any? Why?
Because if you read the stock option plan, when you leave, you have 30 days to exercise.
April 1, our great leader became a consultant and he then probably loaded the boat big time with cheap options. The beauty is that as a consultant, there is no obligation to file as an insider. Keep you eye out for the upcoming yearend financial statements, especially the note about the issued stock, warrants and options. Then reconcile the outstanding options to those on December 31, 2019.
By difference and considering how many options where given to the management and Board in the last round in March (public on SEDIi) you will get a good idea of how many options McMaster got. Remember however, there probably will be some options that were voided, reflecting people who left including outgoing Director Gary Collins. This being said and considering a leopard never changes his spots, I would not be surprised McMaster got more than a million options at under 5 cents that he does not haveto declare from a very weak and pathetic Board. Pure speculation, but how would that be for a trick up his sleeve!
It can be expected that D-BOX will likely be using the Covid excuse, to really clean up the books, layoff people, write off everything they can, … I would think the upcoming financial statements will show a huge loss with a big wash to cover up years of misallocated capital and lost opportunity. Perhaps next year, Management then get a big bonus on a turnaround! By the way, good thing they have bank debt as big brother is probably watching very closely. In my opinion, they are the only watchdogs for equity holders. Unfortunately in a distressed situation, debt is worth more than equity.
Fool me once, shame on you, fool me twice shame on me. The vast majority of the management team should be fired. As an extra gift from the TSX, isn’t it convenient that because of Coronavirus, the Annual meeting could now be at any date in 2020. I think it will be very late in the year …
This company needs a strategic review now.