GREY:BIXZF - Post by User
Comment by
brnt999on Apr 18, 2010 12:28am
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Post# 17004150
RE: insights...
RE: insights...Personally, I dont think the directors should be selling any shares until they prove the process works and the company makes money.Believe me, I have a lot of shares and I want the company to be successful. But I was a little irked with Chris Schnarr recently sold 300,000 shares and pocketed over 600,000 dollars. The company lost over 8,000,00 dollars last year and he gets a bonus of 600,000. If BXI was a private company I dont think he would get a 600,000 bonus.
If the worst case scenerio happened--they couldnt get the process to work and the company went bankrupt--the directors would be making windfall profits on a failed idea. It would be kind of a fraud.
I think they should wait until they prove themselves before paying themselves bonuses. Its the ethical thing to do.
Once the company is profitable I dont care if they sell all of their shares--they would have earned the money.