Two CEO'sI think the reality and the driving force is firstly, to have two divisions as the cancer division will attract a higher PE multiple in a buyout than would the merged company with the laser division that would attract a lower PE multiple as the laser division itself would attract a lower multiple. The end objective for all parties here is an eventual buyout.
Secondly, any entity that we get into bed with is going to want their guy at the head of the cancer division with a singular focus on that aspect. I think the CEO will not be an external hire and possibly the low salary is to discourage outside people from applying. When this puppy gets market acceptance and gets off the ground, just think of the operational activity that is going to be involved with transitioning TLT and their " new disruptive cancer solution" into the new entity and the marketplace. TLT's people (over a transition period), process and technology will not change but the execution will need to consider implementing TLT's solution on a large scale and globally. Think, marketing, media, legal, sales, operations, billings, controls, training, etc. etc.