Microbix Biosystems Inc. T.MBX

2.8 Million Stock Options on Heels of Q1 Bomb

[tulipbubble]

2.8 million options (without saying how many went to C-suite execs and the Board) on the heels of a huge revenue miss and big swing to cash losses is unethical and telling.  These never should have been "awarded".  At best deferred until a return to profitbability and market prices for the shares that reflect that after the Q1 bomb.   

Dec 22  2022 Press Release about Record Sales and Profits:

"Corporate Outlook Microbix will continue to drive sales growth across all of its three revenue-generating business lines, and work to keep improving percentage gross margins and driving bottom-line results."  

At Dec 22/22 they had to know Q1 was looking to be a big miss.   Read the long explanations now being given for the miss...the Q1 bomb was no big surprise to Mgmt or the Board when they made the fwd looking comment above.  

[rjc7]

Get over it. So they had a bad Q. The MBX of today is nothing like the losing MBX of years ago when all they had for product was low margin antigens. Every Q suffered huge losses back then. Far better to issue stock than increase salary for staff especially when inflation is running at 6.5%. If you don't help recoup some of the inflationary costs to your employees they will walk. Holding on to

[tulipbubble]

"Get over it" 'cause they used to be worse? ...there's some sound advice.    How about reflecting on (A) the CEO is paid in cash about $360,000/yr; (B) the other C-suiters seem well paid for a pretty small company (see the AIF for their comp); and (C) the MBX option prctice is that 2/3rds of options "awarded" go to Directors and the Senior officers.  &