RE: RE: Anyone Attending the AGM I see a world of difference between the role of management and that of directors. I have no problem with comp for mgt (especially if in the form of longer term options) where results warrant it. Do directors deserve the same? In the case of our Executive Chairman, he is absent from CYM, his office is downtown Toronto, not Mississauga. His attention is divided between CYM and being the president of Carthew Bay Tech. As Chair of Cymat one would think part of his role would be to provide consultation to the company, so why the extra fee? And Cymat already pays a fee to the private placement agent, isn't that for consultation? And in reading the Information Circular there are identified in Appendix B stock options granted to a "consulting company". Earlier on in the Circular it stated that Liik's comp is paid through Liikfam Holkings Inc. I don't know, but is it possible these stock options have been made to that company?
As near as I can tell, the company's management has made meaningful progress throughout the year. I have never seen anything with Liik's name associated with this, so I come back to my question, why a 60% increase in compensation given the company has a weak cash position? The company's prospects are IMMENSE, STAGGERING. Why not wait until the company is in a position to afford this? Someone tell me if I am off base.
Max, the AGM is on August 11 in Toronto, the offices of Lang Michener at 181 Bay Street. I hope someone is able to attend and try to get clarification of this. I would be interested in hearing the justification for fees above and beyond the initial $60000 for the role as Chair.