Report Card for Management & Board of DirectorsSpectral Medical Inc.
Report Card for Management & Board of Directors Market Capitalization is the valuation of the company, thus an increase in market cap translates to an increase in the shareholder's holdings value, and when it decreases the value of their shares also decreases.
Change in Market Capitalization of Spectral Medical Inc. from the date Chris Seto was appointed CEO on March 8, 2021, until May 12, 2023, has fallen by more than 50%.
| Date | # of Shares | Closing Price | Market Cap |
| March 8,2021 | 239,950,477 | $0.62 | $148,769,295 |
| May 12, 2023 | 278,547,804 | $0.26 | $72,422,429 |
| Change | 38,597,327 | $0.36 | $76,346,866 |
| % Change | +16.09% | -58.06% | -51.32% |
During the tenure of Chris Seto as CEO, the Market Cap of Spectral Medical Inc. has DECREASED by $76,346,866 or 51.32%. The share price has actually DECREASED by 58.06%.
The Actual compensation paid to Chris Seto was.
| Year | Salary | Awards | Other | Total |
| 2021 | $418,627 | $431,658 | $33,000 | $883,285 |
| 2022 | $456,500 | $420,887 | $24,000 | $901,387 |
| Total | $875,127 | $852,545 | $57,000 | $1,784,672 |
In May 2023 Chris Seto was further compensated by participating in the granting of 2,772,828 stock options, 2,072,424 RSUs AND 1,372,549 DSUs to the Company’s Board of Directors and CEO, CMO and CFO.
You cannot solely fault Chris Seto (CEO)for the compensation he received because that is what the Chairman and Board of Directors awarded to him.
There has been gross mismanagement of the company by Management and the Board of Directors.
The question I ask you is: How can anyone be rewarded when the value of the company has fallen by more than half? Consequently, I will WITHHOLD my vote for the re-election of All Directors. Always invest only that which you can afford to lose. Always seek professional investment advice when making decisions about your investments.