Executive Scum It seems like NXO executives are asking some employees to defer salary and reimbursement of expenses, while at the same time continue to pay themselves. That is according to Bill C, the NXO IR guy and biggest supporter of NXO. RG and Paul asked him to be a team player and defer, and when Jun 8 2022 Statement of Executive Compensation came out, he saw Paul McK and Rich G paying themselves handsomely. He was not impressed.
Here is his exact quote from FB a couple of days ago:
“zero for out of pocket reimbursable expenses since July 2021 and zero salary from Sept 2021 on as I was asked to be a team player and defer. Things had been tight previously heading into 2020 and I knew the importance of keeping the AI Team intact. See sedar.com filing of approx June 8, 2022 Executive Compensation. It shows Executive Compensation. for 2020 and 2021 . Paul McK 2021 - $180K, 2021 - Rich G $288K. I didn’t expect that under the circumstances.”
Can’t blame Bill C for being pissed…I would be too. Management keeps pillaging the treasury while at the same time asking employees to be “team players” and work for free. Real class.
So, did Paul McK and Rich G buy any NXO shares with the cash they paid themselves? Check it out…they bought 0 shares with their own $. Management knows the true state of the company, and they are too smart to buy the shares, even at 8 cents.
Now the company is broke: Top management grabbed last of the cash rather than leave anything for stupid investors and employees. Typical.