RE:RE:RE:On board Bdts – I have to respectively disagree with you. The replacement of Troy and Gambow with a small time banker and divorce attorney seemed like a huge downgrade to me. At least they had relevant experience and contacts within KLS’s market segment. The addition of Crews was the only bright spot in years and truly qualified to be a director.
I continue to scratch my head on why the company is not issuing press releases, selling products released years ago or interacting with the investment community to bring in new shareholders. So I did some digging. It’s become pretty apparent, the directors and executives don’t have the ability to build a business and are simply interested in milking shareholders of generous salaries.
SIQ is a perfect example. The company was capitalized two years ago with $2 Mil and a working prototype. In two years they still don’t have products to sell (except for two made by someone else) but still burned $1 Mil last year with $500k going to management fees , consulting fees and share based expenses. They will be out of cash at the end of this year. The rental piece is a red herring as they have no real products.
They can’t get a glorified ski bike to market but were to expect they can bring a fully regulated automotive suspension system to market? And don’t forget the 1 Mil shares and $$$ KLS management gave for the rights to the suspension system or the $1.6 Mil in R& D they spent in 2017.
I know we’ve been over this before but K2 is right. This management is self-serving and never has acted in the best interest of shareholders. Here are some quick observations and I’m sure there are other companies paying them. Great compensation working from your sofa! I’m sure I’d find the same for Tony.
| | KLS w/options | SIQ w/options | Happy Creek | Total | KLS options issued | SIQ shares |
| Bond | $300k | $50k | | $350k | 900k | 984k |
| Lee | $300k | $54k | $48k | $402k | 900k | 510k |
| Hughes | $48k | 
| | $153k | 300k | 631k |
| | | | | | | |
| | | | | | 3.1 Mil to be awarded | 1.2 Mil to be awarded |
Add insult to injury, Hughes is chair of the compensation committee and approved a 24 month severance package.
Maybe when I have some free time I’ll dig into each directors background but I’m sure it will be similar to this.
“Peter Hughes served as a Director and Chief Executive Officer of Molystar Resources Inc. (“Molystar”) from November 2005 to November 2011, which is a reporting company but never listed on any exchange. After Molystar’s prospectus was receipted in 2008, it was unable to sell its offering in the fall of 2008 due to the depressed state of the capital markets. It did not have funds to carry on business. Molystar was subject to cease trade orders issued between May and August 2009 by the British Columbia, Alberta and Ontario Securities Commissions for failure to file audited financial statements for the year ended December 31, 2008 and interim financial statements for the period ended May 31, 2009.”
Hopefully the two spikes we saw is accumulation of stock from a miniature version of Carl Icahn.